The a2 Milk Company (a2MC) has responded to Synlait Milk Limited's announcement today updating its full year 2023 net profit after tax (NPAT) guidance range, noting that there is no material change to a2MC's FY23 outlook.
Synlait noted two components to its lower earnings expectation for FY23, namely further Advanced Nutrition demand reductions and higher financing and supply chain costs.
a2MC is in discussions with Synlait regarding the allocation of certain one-off production/supply chain and other related costs between the two companies.
The Company maintains its FY23 revenue guidance of low-double digit percentage growth on FY22, but expects English label IMF revenue to be down mid-single digits.
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