22 Jan 2025

Synlait Milk | Synlait annual profit rise of 10 per cent below expectations

Synlait has lifted its net profit by 10 per cent to $82.2 million for the year ended July 31, although the result has fallen short of expectations.

The 39 per cent Chinese-owned dairy company posted revenue of more than $1 billion for the first time.
Analysts had been forecasting up to 19 per cent profit, but uncertainty over the new plant at Pokeno in north Waikato and challenges over the Chinese-branded sales had weighed on the results.
“The company is doing the right thing in building the plant but the market has got a little bit ahead of itself in terms of the timing of it coming on stream,” Harbour Asset Management analyst Shane Solly said.

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