Video | Agriculture | Confidence | Economy | Energy | Employment | Finance | Media | Property | RBNZ | Science | SOEs | Tax | Technology | Telecoms | Tourism | Transport | Search

 

Synlait Milk expects to outperform financial targets

SYNLAIT MILK LIMITED

ANNOUNCEMENT

11 December 2013

Synlait Milk expects to outperform financial targets

Synlait Milk expects to outperform financial targets on the basis of a favourable product mix.

Current international dairy commodity price differentials are larger than usual, and continue to favour Synlait’s milk powder and AMF dominant product mix. The company expects that ongoing demand, particularly from China, will mean that this will be maintained for much of the current season.

While it is still early in the season, recent announcements also make it clear that the current season’s milk price is likely to be less than the company was expecting.

John Penno said that Synlait’s policy is to pay our contract suppliers a fair market price. 

“We now expect the company will benefit from both earnings growth in our value added categories, a favourable product mix, and lower than expected milk prices. This is likely to mean Synlait’s earnings for the half and full FY14 will be ahead of forecast”.

A full update on Synlait’s forecast milk price and financial outlook is expected early in the New Year.

ENDS



© Scoop Media

 
 
 
Business Headlines | Sci-Tech Headlines

 

Oil Exploration: Chevron, Equinor Depart NZ

Chevron and Norwegian oil giant Equinor have opted to abandon their joint exploration efforts off the east coast of the North Island... Chevron said the decision not to proceed with the next five-year stage of their work programmes was based on the firms’ broader portfolio considerations and not “policy or regulatory concerns.” More>>

ALSO:

Reference Group Proposal: Motorists, MTI Support Ban On Less Safe Car Imports

A proposal to ban some used car models from being imported into New Zealand is being welcomed by the Motor Industry Association, which says Japan's scraps are being sent here for waste disposal. More>>

ALSO:

Gordon Campbell: On Asking The Banks To Be Nicer To Farmers

Few would begrudge the idea that banks should be made to act more humanely – given the obscene profits that the Aussie banks are extracting annually from New Zealand, they can surely afford to cut some slack. More>>

ALSO:

Wider Net Ban, Other Threats: Plan To Expand Protection For Maui And Hector’s Dolphins

The Government is taking action to expand and strengthen the protection for Māui and Hector’s dolphins with an updated plan to deal with threats to these native marine mammals. More>>

ALSO: