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- Release Date: 30/08/13 13:00
- Summary: FORECAST: SML: Synlait Milk will process more milk than forecast in FY14
- Price Sensitive: No
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SML
30/08/2013 11:00
FORECAST
REL: 1100 HRS Synlait Milk Limited (NS)
FORECAST: SML: Synlait Milk will process more milk than forecast in FY14
Synlait Milk will process more milk than forecast following a decision to
take a significant allocation of milk under the Dairy Industry Restructuring
Act in the financial year to 31 July 2014.
The decision was made after further planning and a small investment in plant
and equipment resulted in an opportunity to increase production capacity of
its ingredient products without impacting the forecast infant formula and
nutritional products business.
The extra milk will result in an increase to the forecast milk supply and
production volumes of its ingredient products as stated in the prospective
financial information ("PFI") of its prospectus issued in June 2013. While
early in the season the additional total production provides the Company with
increased confidence in achieving its forecast financial result for FY2014.
The total volume of milk expected to be taken is still to be finalised
however an allocation of up to 50 million litres of milk is available to the
Company.
Synlait Milk will provide a general update on 24 September 2013 when its
annual result for the year ending 31 July 2013 is announced.
End CA:00240470 For:SML Type:FORECAST Time:2013-08-30 11:00:24
