Commodities

NZ's Synlait Milk posts a 10% jump in FY profit

New Zealand's Synlait Milk on Thursday posted a 10% rise in annual profit driven by higher infant formula sales during the year.

Sept 12 (Reuters) - New Zealand's Synlait Milk SML.NZ on Thursday posted a 10% rise in annual profit driven by higher infant formula sales during the year.

Net profit for the 12 months to July 31 came in at NZ$82.2 million ($52.72 million), up from NZ$74.6 million a year ago.

The company said full year revenue from continuing operations rose 17% to NZ$1.02 billion.

($1 = 1.5591 New Zealand dollars)

(Reporting by Niyati Shetty in Bengaluru Editing by Chris Reese)

((Niyati.N.Shetty@thomsonreuters.com; +918067497199;))

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

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