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- Release Date: 11/12/13 18:43
- Summary: GENERAL: SML: Synlait expects to outperform financial targets
- Price Sensitive: No
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SML
11/12/2013 16:43
GENERAL
REL: 1643 HRS Synlait Milk Limited (NS)
GENERAL: SML: Synlait expects to outperform financial targets
SYNLAIT MILK LIMITED ANNOUNCEMENT
11 December 2013
Synlait expects to outperform financial targets on the basis of a favourable
product mix
Current international dairy commodity price differentials are larger than
usual, and continue to favour Synlait's milk powder and AMF dominant product
mix. The company expects that ongoing demand, particularly from China, will
mean that this will be maintained for much of the current season.
While it is still early in the season, recent announcements also make it
clear that the current season's milk price is likely to be less than the
company was expecting.
John Penno said that Synlait's policy is to pay our contract suppliers a fair
market price.
"We now expect the company will benefit from both earnings growth in our
value added categories, a favourable product mix, and lower than expected
milk prices. This is likely to mean Synlait's earnings for the half and full
FY14 will be ahead of forecast".
A full update on Synlait's forecast milk price and financial outlook is
expected early in the New Year.
ENDS
For more information please contact:
Michael Wan
Marketing and Communications Manager
Synlait Milk
P: +64 27 288 8253
E: [email protected]
www.synlait.com
End CA:00245043 For:SML Type:GENERAL Time:2013-12-11 16:43:22
