Synlait pulls guidance on uncertainty

Thu, 04 Mar 2021

Synlait Milk said it won’t achieve its latest 2021 guidance due to significant uncertainty and volatility.On Dec 21 the company said it expected consumer-packaged infant formula volumes to be approximately 35% lower in the year to July 31 than they were in the prior year.As a result, it tipped the annual net profit would be approximately half that of the 2020 financial year result. Net profit was down 9% to $75.2 million that year.Today the company cited a number of factors and said its previous guidance, "that the overall FY21 NPAT...

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