UPDATE: Synlait plans to double premium payments to suppliers this financial year

Wed, 30 Mar 2016

(Changes story angle to premium payments) By Fiona Rotherham March 31 (BusinessDesk) - Synlait Milk, the South Island dairy processor, expects premium payments to its farmer suppliers to double this financial year to $6 million, mainly on the back of a boom in canned infant formula sales. The Rakaia-based company reported first-half underlying net profit of $12.3 million for the six months to January compared to $400,000 a year ago with a greater push to value add through increased infant formula sales, particularly to specialty milk m...

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