Synlait Milk reports profit boost of $5.3 million

Synlait Milk has posted a $12.1 million profit after tax for the half-year ending in January.

It's an increase of $5.3 million on the same period in 2013.

Chairman Graeme Milne says revenue increased to $284.9 million compared to $176.4 million for the same period last year, largely due to sustained high international commodity prices.

He says gross profit increased to $40 million compared to $32.8 million, due to strong earnings from milk powder and cream products.

However, Mr Milne says it was partially offset by lower than expected earnings from infant formula and nutritional products due to regulations changes in China and New Zealand's precautionary recall of WPC80.


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