Synlait profit falls more than expected; still no covid-19 impact

Thu, 19 Mar 2020

Synlait Milk’s first-half profit fell more than expected, but it kept its guidance for the full-year and said it is still seeing no operational impact from covid-19.The milk processor reported net profit of $26.2 million in the six months to Jan. 31, down from $37.3 million a year earlier. Last month it said net profit would be between $26.5 million and $28.5 million.“Due to month end shipment challenges we fell slightly below our guidance range. This is a timing issue,” it said.Last month, it also lowered its annual forecast for net profit to...

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