Synlait Milk says annual profit more than doubled on sales of higher-margin products

Thu, 11 Aug 2016

By Tina Morrison Aug. 12 (BusinessDesk) - Synlait Milk, the NZX-listed dairy company, says annual profit more than doubled on sales of higher-margin products. Underlying profit was between $32 million and $33 million in the year ended July 31, from $12.2 million a year earlier, the Rakaia-based milk processor said in a statement. Net profit, which includes the reversal of a year-earlier $1.7 million loss related to inventory financing, was between $34 million and $35 million, up from $10.6 million the previous year, it said. Synlait is...

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