UPDATE: Synlait shares plunge on 1H profit decline, lower margins

UPDATE: Synlait shares plunge on 1H profit decline, lower margins
Rebecca Howard
(Updates share price from first paragraph, adds FNZC comment from fourth paragraph.) By Rebecca Howard March 20 (BusinessDesk) - Synlait Milk shares dropped more than 17 percent after the company reported a 9.7 percent decline in first-half net profit on lower margins. The firm, which still expects a lift in full-year earnings, said net profit was $37.3 million in the six months to Jan 31, versus $41.3 million in the same period a year earlier. Revenue, however, lifted 7 percent to $470.9 million on higher sales volumes across its powd...