Synlait warns of weaker profit after IT glitches

(Image: Synlait)

Thu, 22 Dec 2022

Sharply reduced sales volumes have led to Synlait Milk warning first-half profit will be weaker after problems with implementing SAP IT systems.Sales fell by about 45% because of computer problems which delayed shipments of the firm's ingredient products in the first four months of the July 2023 financial year.The company said milk supplies were also lower over the same period.Synlait said net profit in the six months ending Jan 31 would be lower than the $27.9 million it reported in the 2022 financial year. It retained its annual guidance,...

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