Here is where you can find the latest news and updates on our business.
Updated Senior Leadership Team will usher rapid growth
Synlait Milk’s (NZX: SML; ASX: SM1) Senior Leadership Team has been updated with the addition of a General Manager, Strategic Projects role and two further appointments.
Synlait Lactoferrin Second in World to receive U.S. FDA GRAS Notice for use in Infant Formula
Synlait Milk (NZX: SML; ASX: SM1) has been given the green light to export its lactoferrin to the United States for use in infant formula and toddler formula. Synlait is the second company in the world to receive a GRAS (Generally Recognised As Safe) notice from the U.S. Food and Drug Administration (FDA) to use lactoferrin in these applications.
Synlait Appoints General Manager of Sales
Synlait (NZX: SML; ASX: SM1) Callam Weetman has joined Synlait Milk’s Senior Leadership Team as General Manager of Sales. A dairy industry executive with more than 25 years of international B2B sales, business development and product category management experience, Mr Weetman will begin in late April.
Synlait delivers positive first half performance for FY17
Synlait Milk (NZX: SML; ASX: SM1) has reported a half year net profit after tax (NPAT) of $10.6 million for the six months ending 31 January 2017. Synlait’s Chairman, Graeme Milne, said the company has made good progress towards its strategy in the first half (H1 FY17) of the financial year ending 31 July 2017.
Casey Blatch named 2017 Young Financial Manager of the Year
Casey Blatch, Group Financial Controller for Synlait Milk (NZX: SML; ASX: SM1), was named the Young Financial Manager of the Year at the 2017 CFO Awards in Auckland on Wednesday 15 March.
Notice of date for FY17 interim results
Synlait (NZX: SML; ASX: SM1) will announce their Interim Results for the financial year ending 31 July 2017 (FY17) on 29 March 2017.
SYNLAIT INCREASES FORECAST MILK PRICE TO $6.25 kgMS
Synlait Milk (NZX: SML; ASX: SM1) has increased their forecast milk price from $6.00 kgMS to $6.25 kgMS for the 2016 / 2017 season.
Expanded Leadership Team supports Synlait’s vision
Synlait (NZX: SML; ASX: SM1) has expanded their Senior Leadership Team (SLT) to support their vision of becoming the world’s most innovative and trusted dairy company.
Synlait awarded best growth strategy
Last night Synlait Milk (NZX: SML; ASX: SM1) won the Best Growth Strategy category at the 2016 Deloitte Top 200 Awards.
Shareholders pleased with Synlait’s strong FY16 performance
Synlait Milk’s (NZX: SML; ASX: SM1) Annual Meeting of Shareholders today highlighted their record FY16 profit of $34.4 million showed their value added strategy is successful.
Synlait increases forecast milk price to $6.00 kgMS
Synlait Milk (NZX: SML; ASX: SM1) has increased their forecast milk price from $5.00 kgMS to $6.00 kgMS for the 2016 / 2017 season.
Synlait Milk commences trading on ASX
Synlait Milk (NZX: SML; ASX: SM1) has dual listed on the Australian Securities Exchange (ASX) and will commence trading today.
Boyd Williams joins Synlait as GM People and Culture
Boyd Williams will join Synlait’s Senior Leadership Team (SLT) as General Manager People and Culture from 12 December 2016. A senior international human resources executive, Mr Williams brings more than 30 years of experience to one of New Zealand’s fastest growing companies.
Synlait update following earthquake
Synlait’s Dunsandel site has not been affected and is operating as usual following this morning’s 12.02am earthquake and aftershocks. Synlait has confirmed their employees, who live throughout the Canterbury region, are safe.
Synlait removes 360 cars a week from SH1 in Canterbury
Synlait’s shuttle service removes an estimated 360 cars a week from SH1 / Main South Road, one of Canterbury’s busiest, improving road safety for everyone. Introduced on 1 August, it provides employees with a free daily roundtrip shuttle service from Rolleston to Synlait’s Dunsandel site several times in the morning and evening.
Synlait’s Notice of 2016 Annual Meeting of Shareholders
Our 2016 Annual Meeting of Shareholders of Synlait Milk Limited will be held on Tuesday 29 November 2016 from 1:00pm at Tait Technology Centre, 245 Wooldridge Road, Christchurch 8051, New Zealand.
Synlait’s profit triples in FY16, launches next growth phase
Synlait’s reported net profit after tax (NPAT) has more than tripled to $34.4 million for the financial year ending 31 July 2016.
Li Ke resigns from Synlait Milk Board
Li Ke has resigned from her role as Director on Synlait Milk’s Board of Directors for personal reasons.
New appointment to Synlait’s Senior Leadership Team
Quentin Lowcay, General Counsel and Commercial Manager, has joined Synlait’s Senior Leadership Team. Since joining Synlait in 2013, Quentin’s role has grown to advise the SLT and Board on legal affairs, risk, corporate governance, insurance and commercial matters (particularly customer and supplier relationships).
Synlait and a2 Milk reaffirm infant formula supply arrangements
Synlait Milk Limited (Synlait) and The a2 Milk Company Limited (a2MC) are pleased to announce a new supply agreement between the two groups for the production of a2 Platinum® infant formula. The agreement strengthens the current business relationship between a2MC and Synlait by providing certainty around medium term growth plans.
$34 – $35 million FY16 reported earnings forecast for Synlait
Synlait Milk’s reported net profit after tax (NPAT) for FY16 is forecast to be in the range of $34 - $35 million. Underlying NPAT for FY16 is forecast to be in the range of $32 - $33 million¹. Earnings guidance for the financial year ending 31 July 2016 (FY16) has been provided to clarify market expectations around FY16 performance.
Notice of date for Synlait’s FY16 annual results
Synlait will announce their annual results for the financial year ending 31 July 2016 (FY16) on 19 September 2016.
Synlait GM accepts next international role
Michael Stein, Synlait’s General Manager Quality and Regulatory, has accepted the role of Quality and Food Safety Director, Asia Pacific, with Danone Nutricia Early Life Nutrition.
Synlait’s Senior Leadership Team evolves
Synlait’s Senior Leadership Team is evolving with the appointment of a General Manager Business Development and changes to two other General Manager roles.
Synlait forecast milk price $4.50 kgMS next season
Synlait Milk’s forecast milk price for the 2016 / 2017 season is $4.50 kgMS and will carry a higher than usual advance rate for milk suppliers.
Nutritional sales underpin half year underlying profit of $12.3 million
Synlait has reported an underlying net profit after tax (NPAT) of $12.3 million for the first half of the 2016 financial year (HY16).
Growth attracts 28 new Canterbury milk suppliers
Synlait now has 201 milk suppliers for 2016 / 2017 to meet forecast growth in their value-added nutritional product business.
Synlait appoints Strategic Advisor to Senior Leadership Team
Malcolm Tweed will join Synlait’s Senior Leadership Team in a temporary capacity as Strategic Advisor – Business Development from March 2016.
Notice of date for FY16 Interim Results
Synlait will announce their Interim Results for the financial year ending 31 July 2016 (FY16) on 31 March 2016. An investor relations schedule, with key dates for the current financial year, can be found online at www.synlait.com/investors/key-dates.
Synlait strengthens senior team to drive value growth and business performance
Three new senior management positions will add business development and process improvement capability to Synlait’s Senior Leadership Team. Managing Director and CEO John Penno said the decision follows an assessment of business areas that require additional focus to ensure the company continues to deliver against its growth aspirations.
Synlait revises milk price forecast to $4.20
Synlait Milk has revised its forecast milk price for the 2015 / 2016 season from $5.00 per kgMS to $4.20 per kgMS.
Synlait Investor Update – December 2015
This is our first Investor Update, which is intended to keep our shareholders informed of developments in-between full year and half year results (reported in September and March, respectively). This Investor Update features articles on nutritional sales as a KPI, Synlait's 2015 Annual Meeting, dairy prices and profitability, customers and what's happening inside the farm gate. We intend to release an Investor Update twice a year around June and December. Feedback is welcome via email to email@example.com.
Synlait Milk – 2015 Annual Meeting of Shareholders
Synlait Milk’s financial performance in FY16 will reflect strong growth in nutritional sales volumes and showcase the benefits of a value added strategy. Shareholders were told today at Synlait’s 2015 Annual Meeting the focus for the current financial year is on developing nutritional and infant formula products with key customers.
Notice of Annual Meeting of Shareholders 2015
Synlait Milk Limited's Notice of Annual Meeting of Shareholders 2015 will today be sent to shareholders. A proxy voting form will also be sent. Synlait's Annual Meeting will be held on Tuesday 8 December 2015 from 1:00pm at Synlait Milk (1028 Heslerton Road, RD13, Rakaia 7783, New Zealand).
Synlait poised for earnings growth following $12.2 million underlying NPAT in FY15
Synlait Milk has reported an underlying net profit after tax (NPAT) of $12.2 million for the financial year ending 31 July 2015 (FY15), compared with $19.6 million in FY14.
Notice of date for Synlait Milk FY15 annual results
Synlait Milk will announce their annual results for the financial year ending 31 July 2015 (FY15) on 22 September 2015. Synlait’s forecast milk price and advance rates for the current 2015 / 2016 dairy season will be revised at the same time. The final milk price for the 2014 / 2015 dairy season, as well as details for Synlait’s 2015 Annual General Meeting (AGM), will also be announced.
Synlait announces new partnership and premium earning milk supply opportunity
Synlait Milk announced a new partnership with United States company, Munchkin Inc., and a subsequent premium earning milk supply opportunity at its annual milk supply conference held in Christchurch today.
Synlait forecast milk price for 2015 / 2016 season
Synlait Milk’s forecast milk price for the upcoming 2015 / 2016 dairy season is $5.50 kgMS.
Synlait Milk ingredient will help to significantly enhance sleep
Synlait Milk has commercialised a dairy-based milk powder ingredient that is clinically proven to enhance sleep. Results from an independent clinical trial of iNdream3 have proved its efficacy as a sleep promoting ingredient.
Synlait releases Interim Report for 2015 financial year
Synlait Milk has posted a $6.4 million net loss after tax for the first six months to 31 January in the 2015 financial year (FY15).
Synlait announces forecast market milk price range of $4.50 – $4.70
Synlait Milk has increased its forecast of the market milk price for the FY2015 season from $4.40 per kgMS to a range of $4.50 - $4.70 per kgMS.
Synlait Milk confident in its food safety systems
Synlait Milk is confident that its food safety systems and security standards protect the integrity of its products.
Synlait revises forecast of market milk price to $4.40
Synlait Milk has today revised its forecast of the market milk price for the FY2015 season down from $5.00 per kgMS to $4.40 per kgMS, along with a corresponding decrease in advance rates to farmers.
Low impact of drought on Synlait’s milk supply
Current dry weather in Canterbury is expected to have little impact on Synlait Milk’s milk supply because almost all Synlait suppliers have reliable irrigation water access.
Shareholders pleased with Synlait Milk results
Shareholders who attended Synlait Milk’s Annual Meeting of Shareholders today were pleased with the company’s solid financial performance and continued progress in the 2014 financial year.
Synlait Milk receives China approval to manufacture retail-ready infant formula
Synlait Milk is now a registered manufacturer of retail-ready infant formula for export to China, following approval from the Certification and Accreditation Administration of the People's Republic of China (CNCA).
Synlait Milk posts $19.6 million NPAT for FY2014
Synlait Milk has posted a $19.6 million net profit after tax (NPAT) for the year ending 31 July 2014, an increase of 70% compared to the $11.5 million NPAT for FY2013, and in line with its prospective financial information (PFI) forecast of $19.7 million.
Synlait Milk receives MPI approval
Synlait Milk has received approval of its Risk Management Programme from the Ministry for Primary Industries (MPI) for its dry blending and consumer packaging plant.
Strong demand for Synlait Milk’s lactoferrin
Synlait Milk expects strong global demand for its lactoferrin to continue since it began commercially producing and selling the valuable milk protein earlier this year.
First farm environment plan template approved
Environment Canterbury announced its approval of the first farm environment plan template under the proposed Land & Water Regional Plan.
Synlait Milk realigns senior team to better serve its customers
Synlait Milk has appointed Mike Lee to the newly created role of General Manager Sales reporting to the Managing Director Dr John Penno.
Synlait Milk revises FY2014 forecast earnings
A reduced advantage from a favourable product mix in the second half of the year, and a consistently high New Zealand foreign exchange rate has resulted in a reduction in forecast net profit after tax of approximately $7.5 million for the financial year.
Synlait Milk confident of China registration
The initial list of registered New Zealand companies issued today by the Certification and Accreditation Administration of the People's Republic of China (CNCA) did not include Synlait Milk as an exporter of finished infant formula into China. This announcement has been anticipated by the Company for some time.
Synlait Milk well positioned for China’s regulation changes
Synlait Milk Managing Director Dr John Penno says the Company remains confident in its nutritional strategy and is encouraged following last Thursday’s announcement by the Ministry for Primary Industries that it expects Synlait Milk to receive registration by the Certification and Accreditation Administration of the People's Republic of China (CNCA) as an exporter of finished infant formula into China.
Synlait Milk posts $12.1 million half year NPAT
Synlait Milk Chairman Graeme Milne today announced that Synlait Milk has posted a $12.1 million net profit after tax for the first six months to 31 January 2014, an increase of $5.3 million on the $6.8 million for the same period in 2013.
Synlait Milk welcomes FrieslandCampina’s increased shareholding
Synlait Milk welcomes today’s announcement by FrieslandCampina Investments Holding B.V., a subsidiary of Royal FrieslandCampina, that it has increased its shareholding in Synlait Milk from 7.5% to just under 10%.
Synlait Milk commits to state of the art full service laboratory
Synlait Milk has committed to building a state of the art full service quality testing laboratory to further support its position as a supplier of high quality value added ingredients, and infant formula and nutritional products.
Synlait Milk increases forecast milk price and year end result
Continuing high international commodity prices have resulted in Synlait Milk increasing its forecast milk price for the FY2014 season from $8.00 per kgMS to a range of $8.30 to $8.40 per kgMS.
Synlait Milk expects to outperform financial targets
Synlait Milk expects to outperform financial targets on the basis of a favourable product mix.
Shareholders welcome Synlait Milk plans for growth
Synlait Milk’s performance for the 2013 financial year and its plans for the future were welcomed at its Annual Meeting of Shareholders, held today in Christchurch.
Synlait Milk – Champion Global Operator at Champion Canterbury Business Awards
Synlait Milk has won the Champion Global Operator Award (large to medium enterprise) at the 2013 Champion Canterbury Business Awards. This is the second consecutive year that Synlait Milk has won this award.
Fire Brigade Calls for help and Synlait Milk Responds
Synlait Milk is proud to have been able to help the local Volunteer Fire Brigade in Dunsandel by funding the purchase of a brand new emergency response vehicle that will be used to support the community.
Synlait Milk supports AgResearch’s approach to campus development
Canterbury milk nutrition company Synlait Milk is supportive of the investment by AgResearch in its campus infrastructure.
Synlait Milk posts $11.5 million NPAT for FY2013
Synlait Milk posted an $11.5 million net profit after tax for the year ending 31 July 2013, an increase of $7.1 million on FY2012 and ahead of its prospective financial information (“PFI”) forecast of $10.8 million.
Severe weather impacts Canterbury dairy farmers
As reported in the media, severe weather conditions including high winds have resulted in widespread power outages and blocked roads affecting Canterbury dairy farms including those supplying milk to Synlait Milk.
Synlait Milk raises forecast milk price for FY2014 season
Continuing high international commodity prices have seen Synlait Milk increase its forecast milk price for the FY2014 season from $7.00 per kgMS to $8.00 per kgMS.
Synlait Milk will process more milk than forecast in FY14
Synlait Milk will process more milk than forecast following a decision to take a significant allocation of milk under the Dairy Industry Restructuring Act in the financial year to 31 July 2014.
Synlait Milk Infant Formula Products Safe
Synlait Milk has reassured its customers that all products it has manufactured are safe.
Synlait Milk Limited to commence trading on NZX Main Board
The ordinary shares of Synlait Milk Limited (“Synlait Milk”) will begin trading today on the NZX Main Board under the code ‘SML’. This completes Synlait Milk’s successful Initial Public Offering (IPO), with gross proceeds of $114 million received from new shareholders at $2.20 per share.
Synlait Milk Registers Investment Statement and Prospectus
Synlait Milk Limited Welcomes Future Shareholder FrieslandCampina
Synlait Milk Limited (“Synlait Milk") is pleased to announce that FrieslandCampina Investments Holding B.V., a subsidiary of Royal FrieslandCampina, will hold approximately 7.5% shareholding in Synlait Milk upon completion of the Initial Public Offering (“IPO”).
Synlait Milk Limited Initial Public Offer – Final Price Determined
Synlait Milk Limited (“Synlait Milk") has set a Final Price of $2.20 per ordinary share to be offered to institutions and selected NZX firms in its Initial Public Offering ("IPO") which opens on Wednesday 10 July 2013. The Final Price has been set following a bookbuild to institutional investors and NZX Firms on 8 and 9 July 2013. At this Final Price, Synlait Milk will have a market capitalisation of approximately NZ$322 million on completion of the IPO.
Sam Knowles joins Board of Synlait Milk
Former Kiwibank Chief Executive Sam Knowles has been appointed a Director of Synlait Milk Limited and will become an Independent Director on the planned listing of the Company later this month.
Synlait Milk Attracts Leading Infant Nutrition Quality Executive
Michael Stein, a former Director of Quality for one the world’s leading companies in paediatric nutrition will join Synlait Milk as General Manager Quality later this month.
Synlait Milk Wins Accolades For China Strategy
A focus on relationships with some of China’s leading dairy brands is earning accolades for Canterbury’s Synlait Milk Limited (Synlait).
Bill Roest joins board of Synlait Milk
Synlait Milk is pleased to announce the appointment of Bill Roest as a non-executive director. Mr Roest recently retired as Chief Financial Officer of one of New Zealand’s largest listed companies, Fletcher Building Ltd.
Announcement of Intention to IPO
Synlait Milk Limited (Synlait Milk) advises that it is considering an initial public offering (IPO) of shares and to list on the NZX Main Board.
$15 Million Investment in Lactoferrin Production for Infant Formula
Synlait Milk is investing $15 million to upgrade its Special Milks Drier at Dunsandel as it looks to further tap into the $15 billion a year demand for infant formula in China.
Innovative Dairy Companies Form Partnership To Boost Exports
Two of New Zealand’s most innovative dairy companies are forming a partnership to boost exports to one of the world’s fastest growing consumer markets. Synlait Milk will next month despatch the first consignment of a2® Platinum™ infant formula destined for mothers and infants in China.
Synlait Milk Launches its ISO 65 Accredited Dairy Farm Assurance System
Synlait Milk launched its internationally accredited ISO 65 dairy farm assurance system called Lead With Pride to its 150 strong milk supply base today.
Synlait Milk Posts $6.3 Million Net Profit for 2012 Financial Year
Canterbury milk nutrition company Synlait Milk posted a $6.3 million profit after tax for the year ending 31 July 2012. Click the link below to view the press release and the FY12 Annual Report.
Synlait Milk Considers its Future Growth Requirements
Since inception Synlait Milk has had a unique ability to identify key market trends, and adapt its operation to capture extra value. A good example of this was the recent infant nutritional market development and plant expansion.
Turning Milk into Money
Starting with the high-end consumer, and working back to the cow, Synlait Milk has turned the traditional New Zealand dairy industry model on its head.
Synlait Milk Annouces Milk Price for 2011/2012 Season
The average price paid by Synlait Milk for milk supplied in the 2011/2012 season is $6.22 per kg MS.
Synlait Wins Champion Canterbury Award
Synlait Milk has won the Champion Global Operator Award (large to medium enterprise) at the 2012 Champion Canterbury Awards. The awards are run by the Canterbury Employers Chamber of Commerce and celebrate business excellence, passion and success.
Synlait Named Champion Canterbury Finalist
Synlait was named as a finalist in the Champion Global Operator category, recognising innovative importers or exporters of products or services who contribute to the region’s internationally oriented reputation.
Synlait Milk Scoopes Agri-Business Award
Synlait Milk has scooped the Agri-Business Award in the Sensational Selwyn Awards, which recognise business excellence in the Selwyn District.
Recognition on a Global Scale for Synlait Milk
Synlait’s General Manager Manufacturing Neil Betteridge and Nutritional Plant Manager Phil O’Malley recently returned from the 5th International Symposium on Spray Dried Dairy Products held in Saint-Malo, France.
Immuron Collaborates with Synlait for Production of Hyperimmune Colostrum
Australian biopharmaceutical company Immuron Limited, manufacturer of Travelan, has entered into an agreement with Synlait Milk Ltd for the production of Immuron’s hyperimmune colostrum.
Analysis Shows Fonterra Artificially Boosts Milk Price
The Independent Dairy Processors Group (IDPG) made a joint submission today to the Primary Production Select Committee on the Dairy Industry Restructuring Amendment Bill (“the Amendment Bill”). Central to the submission was quantitative analysis of Fonterra’s milk pricing conducted by Deloitte Corporate Finance.
Synlait Milk Hosts Fourth-Ranked Chinese Leader
The fourth-ranked Chinese leader, Jia Qinglin, today visited leading dairy nutritional business Synlait Milk Limited to see an example of successful bilateral investment between Synlait Milk and Bright Dairy of China.
China Business 2012: ‘Real camaraderie’ in joint venture dairy project
Former National Finance Minister Ruth Richardson is one of a select number of Kiwis to sit on the board of a Chinese-controlled NZ-based company.
Synlait: Making More From Milk
Based in the heart of Canterbury, New Zealand, Synlait Milk is an innovative dairy processing company that combines expert farming with state-of-the-art processing to produce a range of nutritional milk products that provide genuine benefits for human health and wellbeing.
Dairy Farmers Are Better Off With Industry Competition
All New Zealand dairy farmers are better off because Synlait Milk and other independent dairy companies exist, says Synlait Milk Chief Executive John Penno.
Matthew Foster Appointed General Manager Supply Chain
Synlait Milk today announced the appointment of Matthew Foster as General Manager Supply Chain reporting to Chief Executive Officer John Penno.
Innovation Around The Clock At Synlait Milk
Canterbury milk powder manufacturer, Synlait Milk recently completed production of an innovative new milk powder designed to assist people with sleep disorders.
Canterbury Dairy Farmers Voting With Their Feet
Over the last four years Canterbury dairy farmers have signed up over 130 farms on long term supply agreements to Synlait Milk. And another wave of new suppliers is expected to be welcomed this year.
Synlait Milk Infant Formula Hits the Retail Shelves
It was a fantastic feeling to see Synlait Milk manufactured infant formula on the supermarket shelves in China. It was a clear demonstration of our ability to deliver on our plans.
Synlait Milk Unveils $100million Infant Nutritional Facility
The Southern Hemisphere’s largest and most sophisticated infant nutritional facility, developed by Synlait Milk at Dunsandel, Canterbury, was officially opened today by the Minister of Trade, the Honorable Tim Groser.
Synlait Milk makes Deloitte Fast 50 index for fourth year running
Synlait Milk set a new record for itself last night by making the Deloitte Fast 50 index for the fourth consecutive year.
Synlait Milk Infant Formula on Sale in China
Synlait Milk has produced its first consumer-packaged infant formula for export to China. The premium infant formula goes on sale next month in Chinese supermarkets in Shanghai, and Synlait Milk CEO Dr John Penno says it marks the company’s transition to one of New Zealand’s leading infant nutritional producers.