NZ's Synlait Milk drops most in a month on downbeat HY results

Synlait Milk

23/03/2026 01:44

Updates

** Synlait Milk SML.NZ falls as much as 2.1% to NZ$0.475; marks biggest intraday pct loss since February 24

** Dairy producer posts HY net loss after tax of NZ$80.6 mln (~$47 mln) vs year-ago profit of NZ$4.8 mln

** Flags manufacturing challenges in New Zealand's Dunsandel facility

** Unlikely to be easy for co to find new customers or shift volume into other products as its largest customer, a2 Milk ATM.NZ, could shift volumes away over coming years, said Matt Montgomerie, senior analyst at Fosyth Barr

** Co withdraws guidance for remainder of FY

** YTD, SML down 25%

($1 = NZ$1.7161)

 (Reporting by Aamir Sheik Khalid & Rajasik Mukherjee in Bengaluru)

 ((Aamir.SheikKhalid@thomsonreuters.com;
Rajasik.Mukherjee@thomsonreuters.com))