Canterbury-based dairy company Synlait Milk is expected to report a strong first-half result as it continues to ride on the coat-tails of its highly successful customer and part-owner, a2 Milk.
The fortunes of Synlait and marketing phenomenon a2 Milk are closely aligned, which is a blessing and a curse for both of them.
While retaining the relationship that has served them so well, they seek to become less reliant on each other. Before signing a joint venture deal with Fonterra last year, Synlait was a2 Milk's sole supplier in New Zealand.
And A2 Milk, which last year lifted its stake in Synlait by 8 per cent to 17.4 per cent, remains Synlait's biggest customer.
The issue for Synlait and a2 Milk has been what one analyst calls their "co-dependency".