'Very disappointed': Synlait warns of first-half loss up to $82m, shares slump

'Very disappointed': Synlait warns of first-half loss up to $82m, shares slump

Synlait Milk says it is heading towards a first half net loss of $77 million to $82 million because of what it said were “manufacturing challenges” at its...

Synlait Milk expects half-year loss amid manufacturing challenges

New Zealand-headquartered Synlait Milk expects to record a loss during the six months ended January 31, citing manufacturing challenges at its Dunsandel site. The company, which is also listed on the ASX, owns Dairyworks, which supplies Australian supermarkets with cheese, butter, and ice cream. The company is forecasting an underlying net loss after tax of NZ$33 million to $38 million and a reported net loss after tax of $77 million to $82 mill…