- NPAT half year profit of $37.3 million - Re-confirmed guidance for canned infant formula volumes of 41,000 – 45,000 MT - Manufacturing efficiencies have supported improved production and sales volumes - Key growth projects including Synlait Pokeno and our Advanced Liquid Dairy Packaging Facility remain on track - New growth opportunities in liquid milk, Talbot Forest Cheese and lactoferrin expansion - New purpose ‘Doing Milk Differently for a Healthier World’ established
This looks to be an ok result but probably on, or slightly below, market expectations. There are no major surprises or upgrades. Outlook for second half is sustained. Interim profit is probably below expectations. This is offset by growth in IF sales and the outlook for significant IF sales in the second half. Lactoferrin production is also expected to increase significant in the second half. Milk production volumes are also up. Growth projects for the company remain on-track.
Baron
SM1 Price at posting:
$11.18 Sentiment: Buy Disclosure: Held
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