Crying over spilt milk: Synlait shares continue to tumble

(Image: Unsplash)

Wed, 26 Apr 2023

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...

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