fbpx
Print this page
Tuesday, 03 September 2013 15:53

Synlait raises forecast by $1

Written by 
Synlait raises forecast by $1

Continuing high international commodity prices have seen Synlait Milk increase its forecast milk price for the FY2014 season from $7kgMS to $8 kgMS.

The company also lifted its advance rates for the season effective from August paid September from $4.50kgMS to $5kgMS.

Synlait Milk announced last week that it will process more milk than forecast this season following a decision to take a significant allocation of DIRA milk that will increase total production volumes of its ingredients products.

Synlait Milk managing director John Penno says the company remains confident in achieving its forecast financial result for FY2014.
"Higher than forecast revenue from high commodity prices and additional processing volumes mean we remain confident of achieving our FY2014 earnings targets at these increased milk prices."

More like this

Synlait is 'Burning Cash, Not Creating Value'

Synlait is 'Burning Cash, Not Creating Value'

OPINION: Synlait's latest half-year result reveals a serious problem at the heart of the business: its core operations are no longer bringing in enough revenue to cover the cost of production.

Blunt CEO

OPINION: Synlait's woes show no sign of ending anytime soon.

Synlait, Nestlé Expand Eco-Focused Dairy Partnership in NZ

A partnership between Canterbury milk processor Synlait and the world's largest food producer, Nestlé, has been celebrated with a visit to a North Canterbury farm by a group including senior staff from Synlait, the Ravensdown subsidiary EcoPond, and Nestlé's Switzerland head office.

Popular Reads

Featured

Govt Commits $4m to Rural Wellbeing Initiatives

Govt Commits $4m to Rural Wellbeing Initiatives

While the District Field Days brought with it a welcome dose of sunshine, it also attracted a significant cohort of sitting members from the Beehive – as one might expect in an election year.

Shane Jordan Beats Brother to Win NZ Timbersports Title

While not all sibling rivalries come to blows, one headline event at the recent New Zealand Rural Games held in Palmerston North certainly did, when reigning World Champion Jack Jordan was denied the opportunity of defending his world title in Europe later this year, after being beaten by his big brother’s superior axle blows, at the Stihl Timbersports Nationals.

National

Machinery & Products