Synlait shares in trading halt
Listed Canterbury milk processor Synlait’s shares have been placed in a trading halt.
The A2 Milk Co more than doubled its profit to $195.7 million in the year to June 30 – over 116% ahead of the previous financial year.
The total revenue was $922.7m, a 68% increase on last year and earnings before tax were $238m, up 101% on last year.
a2 Platinum infant formula sales revenue was $724.2m, an increase of 84% on the previous year.
The company reported that sales of a2 Platinum infant formula again grew substantially in Australia and China, with continued growth in market share. The ANZ market share grew from 26% to 32% by value.
a2 Platinum remains the fastest growing infant formula brand by value in Australia, the company says.
Consumption market share by value grew to 5.1% in China.
Distribution has grown to 10,000 stores in China and 6000 stores in the US.
The company continued raising its brand awareness, expanding distribution in priority markets and adapting to new regulations in China.
Managing director and chief executive Jayne Hrdlicka says full year 2018 has been a year of change.
One of Fonterra’s global customers, Mars is launching an ambitious sustainable dairy plan to work with dairy farmers and cut emissions by 50%.
Beef + Lamb New Zealand chief executive for the past eight years, Sam McIvor is heading for new pastures at Ospri, which runs NZ’s integrated animal disease management and traceability service.
The world's largest wool scouring facility, WoolWorks Awatoto plant in Napier, is back operating at full capacity.
A year on and the problems created by Cyclones Hale and Gabrielle has largely dropped off the radar of media and politicians.
Feeling forgotten and in a fragile space financially and mentally.
Horticulture NZ chief executive Nadine Tunley will step down in August.