Synlait Milk Limited has released a guidance range for net profit after tax (NPAT) of $15-$25 million for FY23, due to reduced demand, operational and SAP stability challenges and increasing costs.

Synlait CEO Grant Watson attributed the challenges to a three year recovery plan, rather than the expected two.

The performance of Synlait's Ingredients and Consumer businesses remains strong, while commercial UHT cream sales have commenced as planned.

More details will be released at the half year result on Monday 27 March 2023.

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