UPDATE: Synlait shares drop 5.9% after second profit warning

Thu, 29 May 2014

(Adds share movement, analyst & company comment) By Suze Metherell May 30 (BusinessDesk) - Shares in Synlait Milk fell 5.9 percent after the dairy processor, which counts China’s Bright Dairy as a cornerstone shareholder, cut its full-year earning forecast for the second time this year as a strong currency and an unfavourable product mix weighs on the exporter. The Rakaia-based company cut its forecast profit range to between $17.5 million and $22.5 million in the year ending July 31, from a March estimate of $25 million and $30 millio...

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