Synlait records record half year profit of $40.7mPHOTO: WARWICK SMITH/STUFF Synlait chief executive John Penno opens a research and development centre in conjunction with Massey University at the Massey campus in Palmerston North. Synlait Milk has reported a half year net profit after tax of $40.7 million for the six months ending January 31. The Canterbury-based, Chinese minority owned company has carved out a niche with a range of nutritional products, including infant formula. Synlait recently announced it had conditionally bought 28 hectares of land in Pokeno, North Waikato, to build a $260m infant formula manufacturing plant. This included an Auckland blending and canning facility ($11.2m) and a new wetmix kitchen at Synlait Dunsandel ($18.4m).

Source: Stuff March 20, 2018 20:37 UTC