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.
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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