Shares in Synlait Milk plummet almost 10%

(Image: Synlait)

Fri, 17 Mar 2023

Shares in Synlait Milk plummeted almost 10% earlier this afternoon after the dairy company revealed its full-year profit could be just half of what it reached last year.Synlait told the New Zealand stock exchange its full-year net profit will be in the range of $15 million to $25m – a huge loss from the $38.5m the dairy company saw a year earlier.“While underlying momentum is lifting, our full financial recovery will take longer than planned,” chief executive Grant Watson said.He said the key drivers behind the much weaker gui...

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