The days of cafes getting milk in plastic bottles may be numbered if two young Dunedin entrepreneurs have their way.
Synlait Milk’s annual meeting of shareholders yesterday highlighted that their record 2016 profit of $34.4 million showed their value added strategy is successful.
Synlait has successfully completed its pro rata entitlement offer announced on September 19, raising $98 million of new equity.
Synlait has had its strongest year yet, tripling after-tax profit to $34.4 million for the year to July 31.
Infant formula and nutritionals will dominate Canterbury milk processor Synlait's sales over the next seven months.