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SML - Synlait Milk News Story

NZD3.73 -0.0  -0.8%

Last Trade - 30/07/21

Consumer Defensives
Mid Cap
Market Cap £409.3m
Enterprise Value £659.5m
Revenue £706.2m
Position in Universe 341st / 1946

BUZZ-China-facing baby food makers Synlait, a2 Milk extend gains on country's policy shift

Wed 2nd June, 2021 12:53am
** New Zealand-based Synlait Milk Ltd  SML.NZ  rises more
than 5% for a second straight day; shares hit a near 4-week peak
    ** a2 Milk Co  ATM.NZ  up 3.6% to its highest since May 13
    ** SML and ATM are the biggest pct gainers on the New
Zealand benchmark index  .NZ50 
    ** Infant formula makers extend gains into second session
after China on Monday relaxed the cap to allow married couples
to have up to three children from the existing limit of two*:nL3N2NJ05X*:nL2N2NI0CX
    ** Move comes after recent data showed a dramatic decline in
births in the world's most populous country which had spooked
global dairy producers*:nFWN2KU09B
    ** SML, ATM count China as their biggest market and have
already been facing supply channel disruptions there since last
    ** Both cos had downgraded their earnings forecasts in May
    ** As of last close, ATM stock had halved in value this
year, while SML stock fell ~40%

 (Reporting by Anushka Trivedi in Bengaluru)
 ((; +918061823241;))
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