Photo: ODTA Canterbury-based dairy company is feeling the impact of "significantly lower" infant powder base sales due to market consolidation in China. A2 Milk's key infant formula supplier, Synlait Milk, said it would not achieve previously advised earnings growth in the current year. Synlait Milk said its profit for the July 31 year would be between $70 million and $85 million compared with last year's net profit of $82.2 million, which was a 10 per cent improvement on the previous year's. Synlait said had not felt the financial impact of the coronavirus outbreak in China but that it nevertheless posed a risk. Globally there was uncertainty about coronavirus' impact on supply chains and consumer demand.

Source: Otago Daily Times February 12, 2020 22:52 UTC