Adds particulars on toddler formulation volumes steerage, FY20 end result
Adds particulars on toddler formulation volumes steerage, FY20 end result
Dec 21 (Reuters) – Dairy producer Synlait Milk SML.NZmentioned on Monday its full-year revenue would halve on account of key buyer and shareholder a2 Milk ATM.NZ trimming its steerage after the COVID-19 pandemic hit demand in China.
Synlait now expects web revenue after tax for fiscal 2021 to be about half of final yr’s end result, and complete consumer-packaged toddler formulation volumes to be about 35% decrease.
The corporate’s web revenue after tax for the 12 months to July 31 had come at NZ$75.2 million ($53.54 million).
a2 Milk on Friday lowered its half yearly and full yearly income steerage.
Synlait advised shareholders that there was no disruption to manufacturing or demand for its lactoferrin ingredient or consumer-goods companies, and mentioned it was actively taking steps mitigate the affect of this growth.
($1 = 1.4045 New Zealand {dollars})
(Reporting by Arundhati Dutta in Bengaluru; Modifying by Angus MacSwan and Jane Merriman)
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