Sprinkle the yeast over the warm milk in a small bowl. Let stand for 5 minutes until the yeast softens and begins to form a creamy foam. Stir the warm water and sugar into the yeast mixture.
Stir the flour and salt together in a separate bowl; add all but about 1/2 cup of the flour mixture to the yeast mixture; mix with your hands until a soft dough forms, adding the last of the flour mixture a little at a time until it clears the sides of the bowl. Cover the bowl with a light cloth and let the dough rise in a warm place until doubled in volume, about 1 hour.
Deflate or 'punch down' the dough and turn out onto a work surface lightly dusted with flour; knead for about 5 minutes. Return the dough to the bowl, cover again with a light cloth and allow the dough to again rise until doubled in volume, about 30 minutes more.
Preheat an oven to 200 degrees C. Lightly grease a baking tray.
Deflate the dough and turn turn out onto a work surface lightly dusted with flour; knead lightly. Place the dough onto the prepared baking tray; shape into an oval about 1cm thick. Set aside to rise a third time for about 30 minutes.
Bake in the preheated oven until nicely browned and hollow sounding when thumped, 20 to 25 minutes.