Blog: Katy AskewSynlait managing 2015 expectations

Katy Askew | 2 December 2014

Amid some pretty bullish statements on the company's performance to date, New Zealand infant formula group Synlait sneaked in a pretty timid 2015 outlook at its annual shareholders meeting.

The company stressed shareholders in attendance were "pleased" with the company's "solid financial performance and continued progress" in fiscal 2014.

"We're pleased that we delivered on the promises we made last year by meeting our prospective financial information (PFI) forecasts. Our $19.6 million net profit after tax (NPAT) was in line with our PFI forecast of $19.7 million, and that's a good result for our shareholders," managing director Dr John Penno stressed.

However, the company was more reticent on its expectations for fiscal 2015 - suggesting that sales gains and higher infant formula prices are likely to be offset during the period. "It's still early in the season, but we expect the benefit of increased infant formula and nutritional sales to be largely balanced out by increased operating and funding costs," chairman Graeme Milne revealed.

The company said that it will update its milk supply pricing in January and provide FY2015 forecasts in March next year. However, I think we can safely say that expectations have been managed.

 

BLOG

UK consumers to cut back on fruit and veg - and point to Brexit, study says

Whatever your view on Brexit, a piece of research issued today (18 July) in the UK on fruit and veg consumption will likely unite more of you than last year's divisive vote....

BLOG

Cyber attack - another wake-up call for business

A month after an international cyber attack hit entities including the UK's National Health Service and Spanish telecoms giant Telefonica, another has caused havoc around the world, affecting business...

BLOG

A bad fortnight for self-regulation

Recent events in Canada, Brussels and the UK suggest the task of defending self-regulation as the best way to prevent the commercial activities by food companies from exacerbating childhood obesity is...

just-food homepage



Forgot your password?