Nice find EDDHC, that is a MASSIVE number. You would think that Synlait have a reasonable estimate of the growth in demand, and A2M is their major formula customer. An increase of at least 12350MT corresponds to about 13.7M 900g tins of formula. At estimate $20 NZD per tin this gives about $274M NZD formula revenue for FY16. And that is projected growth ABOVE baseline.
Formula revenue for FY15 was $41.7M. In Nov A2M indicated that formula accounted for 47% of group revenue (approx $134M of $285M total revenue forecast at that stage, lifting to $149M to $164M range in Dec update). Sunlight's forecast is a long way above these estimates. If Synlait's forecasts are right they are anticipating a HUGE further lift in formula demand in 2H16. All good news.
Synlait update Dec 16 and Dec 8, page-2
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