Synlait reports 76% drop in 1H net profit

Rebecca Howard
Mon, 29 Mar 2021

Rebecca Howard
Mon, 29 Mar 2021
Synlait Milk reported a 76% drop in net profit in the six months to Jan 31 and said significant uncertainty and volatility would continue to impact the company.“Our first half was challenging, and we continue to find ourselves in a period of significant uncertainty and volatility as Synlait faces into several headwinds. This is impacting our short-term operations and will impact our full-year 2021 financial result,” said Synlait chair Graeme Milne.Net profit was $6.4 million as consumer-packaged infant formula sales fell 16% to 18,0...

Use the information you’ve already given Google to create your subscription.

Not convinced yet?

Subscribe to our Daily News Update free newsletter.

Property
Pet food millionaire snaffles Taupō racetrack
Pattrick Smellie | Sat, 17 Apr 2021

Tony Quinn is adding Taupō's Bruce McLean Park to the motorsport facilities he already owns at Hampton Downs and Highlands.

Markets Exclusive
Market regulator blasts Australian 'culture of leaks'
Dan Brunskill | Sat, 17 Apr 2021

Leaks are threatening market integrity and should not be tolerated, NZ RegCo says.

Opinion
The traditional office is dying a slow, painful death
Jehan Casinader | Sat, 17 Apr 2021

The modern workplace has been through various iterations in recent decades, but no one questioned why it existed in the first place.

Partner Content
Highlights from the New Zealand company earnings season

The February earnings season has provided a snapshot of the impact covid-19 has had on different sectors over the last six months and expectations for the year ahead.

Sponsored
Now’s the time to ask hard questions on our future land use

How can we work together to strengthen our economy and support Kiwis to prosper while protecting our natural environment and our climate.

Loading...