Shanghai Pengxin's Milk New Zealand Holding unit tripled its sales and profit last year after acquiring a controlling interest in Canterbury-based Synlait Farms and agreeing to extend its land holdings with farm acquisitions in Northland and near Taupo. Profit rose to $32.8 million in the 12 months ended June 30, from $11.1 million a year earlier, according to the Auckland-based company's annual report.