Synlait backs away from turnaround profit guidance
Having previously said it would return to pre-2021 profit levels, ‘I think we need to let that go,’ says CEO.
Synlait has reported sharply reduced profit for the half year to January.
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Milk processor Synlait is backing away from its previous expectation of a profit turnaround after reporting significant cost increases in the first half.
In issuing a profit warning last week Synlait said its two-year turnaround – expected to deliver net profit restored to pre-2021 levels by July
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