Keytone Dairy (ASX:KTD) surges on Chinese milk powder...

Keytone Dairy (ASX:KTD) surges on Chinese milk powder sales

Consumer

ASX:KTD MCAP $59.01M

·Food producer Keytone Dairy (KTD) has announced an increased sales forecast for its whole and skim milk powder products sold in China

·Nouriz Fine Food uses Keytone's New Zealand factory to manufacture its powder products, which are sold under the private label Nouriz China

·The Nouriz China powders have already brought in NZ$2.5 million (roughly A$2.37 million) in sales in the 12 months to October

·But Keytone has been advised sales for 2021 should eclipse that total, with NZ$3.1 million (around A$2.94 million) in sales forecast — a 24 per cent increase

·Shares in KTD are trading up 10.9 per cent at 25.5 cents each

Keytone Dairy (KTD) has announced an increased sales forecast for its whole and skim milk powder products sold in China.

The New Zealand food producer manufactures the products for Nouriz Fine Foods, which then sells the products under its private label brand Nouriz China.

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