UPDATE: Synlait Milk almost doubles annual profit on high value product growth

Wed, 19 Sep 2018

(Adds outlook comments from 8th paragraph, updates shares.) By Tina Morrison Sept. 19 (BusinessDesk) - Synlait Milk, the best performing stock on the benchmark NZX index this year, almost doubled annual profit and lifted its margins while outlining plans for further expansion into value-added dairy products. Profit surged 89 percent to $74.6 million in the year ended July 31, while revenue rose 16 percent to $879 million, the milk processor said. Gross profit per metric tonne lifted to $1,294 from $792 as it increased its volume of con...

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