NZ's Synlait Milk slides on weak outlook despite return to profitability

Synlait Milk

23/03/2025 23:26

** Shares of Synlait Milk SML.NZ fall 9.9% to NZ$0.91

** Stock fell as much as 10.9% to NZ$0.9 in early trade, largest intraday pct gain since July 17, 2024

** Dairy producer flags financial progress made in second half of FY25 to be slower than first half

** Attributes weak update to opportunities and risks related to milk stream returns and foreign exchange, operational and cost improvements

** Logs net profit after tax NZ$4.8 million ($2.75 million for HY vs loss NZ$96.2 million last year

** More than 515,000 shares change hands vs 30-day avg volume of around 399,000 shares

** Synlait up 109.2% YTD, including current session's moves

($1 = 1.7428 New Zealand dollars)

 (Reporting by Nikita Maria Jino in Bengaluru; Editing by Stephen Coates)

 ((Nikita.Jino@thomsonreuters.com;))