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Markets
Synlait shares fall to 2-year low on profit downgrade
Shares in Synlait Milk fell to a two-year low after a softer infant formula market and the coronavirus outbreak sparked a profit warning.The shares fell as low as $6.86, and were recently down 16.8 percent at $6.90, the first time they have fallen below $7 since early 2018.The mi...
Finance
AMP talking to potential buyers of NZ wealth business
AMP said the divestment process of its New Zealand wealth management business is well underway and that it is "in discussions with a number of interested parties."It expects to provide a further update at or before it reports its first-half results for 2020 – that should happen i...
Primary Sector
Skellerup profit falls 10%; trade war dents US demand
Skellerup Holdings reported a 10 percent decline in first-half profit as the US-China trade war dulled demand for its rubber industrial components.Net profit fell to $12.1 million in the six months ended Dec. 31, from $13.4 million a year earlier. Revenue edged up 2 percent to $1...
Primary Sector
Synlait Milk first-half profit falls as much as 29% as growth stalls
Synlait Milk said first-half profit fell as much as 29 percent and it has has downgraded its annual earnings outlook, saying infant formula sales haven’t grown as expected and noting the coronavirus outbreak is another spanner in the works.However, Synlait said the contribution t...
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