Synlait reports 76% drop in 1H net profit

Mon, 29 Mar 2021

Synlait Milk reported a 76% drop in net profit in the six months to Jan 31 and said significant uncertainty and volatility would continue to impact the company.“Our first half was challenging, and we continue to find ourselves in a period of significant uncertainty and volatility as Synlait faces into several headwinds. This is impacting our short-term operations and will impact our full-year 2021 financial result,” said Synlait chair Graeme Milne.Net profit was $6.4 million as consumer-packaged infant formula sales fell 16% to 18,0...

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