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Synlait Milk Says Most Losses Impacting Bright Dairy & Food Results Were Incurred in January

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-- Synlait Milk (NZE:SML, ASX:SM1) said most of its losses that led to Bright Dairy & Food's reported profit decline were incurred during January, and were previously reported in the company's half-year results, according to a Thursday filing with the New Zealand bourse.

Synlait issued the statement in response to the release of Bright Dairy's first-quarter report, which said the Chinese company saw a significant year-over-year reduction in profit due mainly to Synlait's losses during the period.

In addition to the January losses, Synlait said it incurred a comparatively smaller net loss across February and March, which is also reflected in Bright Dairy's report.

Synlait's Kiwi shares gained more than 1% in recent Thursday trade.

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