Synlait Milk now expects up to $30m loss

Mon, 24 May 2021

Synlait Milk now expects to report a full-year net loss and said its banking syndicate has granted a waiver of relevant covenants. It is now tipping a net loss of between $20 million to $30 million in the 12 months to July 31.In late March it was forecasting a “broadly breakeven FY21 NPAT result”. Net profit was $75.2m in the year to July 31, 2020.The lower guidance is due to an expectation of ongoing shipping delays, which will result in the sale of some ingredient products occurring post the FY21 balance date, it said.It also...

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