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

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Sept 12 (Reuters) – New Zealand’s Synlait Milk 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)