Crying over spilt milk: Synlait shares continue to tumble

Crying over spilt milk: Synlait shares continue to tumble
(Image: Unsplash)
Ella Somers
Synlait Milk’s share price plummeted by 46 cents, or 21.5%, by early afternoon in response to the company slashing its full-year net profit guidance to a possible loss and cutting its forecast milk price by 20 cents.It now expects to report anywhere from a net loss of $5 million to a net profit of $5m for the year ended July 31.The dairy company previously told the market in late March net profit after tax was going to be in the range of $15m to $25m.“Crying over spilt milk is quite accurate,” Hamilton Hindin Greene’s Gr...

More Primary Sector

Job cuts on the table at embattled BX Foods
Primary Sector

Job cuts on the table at embattled BX Foods

The meat processor operates a plant in Oamaru.

Riley Kennedy 25 Jul 2024
Foresta parts ways with managing director Ray Mountfort
Primary Sector

Foresta parts ways with managing director Ray Mountfort

The company assured shareholders plans for a biomass plant in Kawerau are on track.

Greg Hurrell 25 Jul 2024
NZ raises its concerns with EU over deforestation regulation
Primary Sector

NZ raises its concerns with EU over deforestation regulation

The regulation is tipped to pose “quite significant burdens”.

Riley Kennedy 25 Jul 2024