Synlait has posted a half-year net-profit after tax of $37.3million, 9.6% lower than the $41.3million achieved in HY18. In a statement, the company described it as a ''solid result'', with increased sales volumes achieved across its powders and cream and lactoferrin businesses. Synlait processed 12.4% more milk in the period into 90,466 metric tonnes of product, a 10.5% increase on FY18. While sales volumes of fully finished infant formula were slightly ahead of HY18, they were delivered at lower margins. The build of its new infant-capable manufacturing facility in Pokeno continued to be on track for commissioning for the 2019-20 milk season.

Source: Otago Daily Times March 20, 2019 15:33 UTC