SML
30/08/2013 14:54
GENERAL
REL: 1454 HRS Synlait Milk Limited (NS)
GENERAL: SML: Bright Dairy releases half year result
On 30 August 2013 Bright Dairy & Food Co Ltd., ("Bright Dairy") released its
half year result for the period to 30 June 2013 on the Shanghai Stock
Exchange.
As Bright Dairy consolidates the financial results of Synlait Milk Limited
("Synlait Milk"), it has disclosed financial information related to Synlait
Milk in the notes of its half year accounts.
The financial information provided in the Bright Dairy half year result
related to Synlait Milk is in line with forecast results for the year ended
31 July 2013 included in the Synlait Milk prospectus issued in June 2013.
In addition we note that Bright Dairy has adopted a different accounting
policy to Synlait Milk in that it does not take up any fixed asset
revaluations in its financial accounts, whereas the accounting policy of
Synlait Milk is to revalue fixed assets at least every three years.
End CA:00240485 For:SML Type:GENERAL Time:2013-08-30 14:54:54
Price at posting:
$3.14 Sentiment: None Disclosure: Held
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