Synlait Milk Limited (ASX:SM1) slates FY20 earning guidance to be between $70 million to $85 million net profit after tax.
- The company anticipated previously the profits to continue in FY20, with the rate of profitability increasing at least at a similar rate to FY19 over FY18; however, SM1 now assess that this rate of growth will not be achieved; and,
- The company also anticipate NPAT between $26.5 million to $28.5 million for the six months ended 31 January 2020 (HY20).
- While sales of consumer-packaged infant formula volumes have increased against the corresponding half-year period; the HY20 result will be impacted by some external and internal factors such as lower than anticipated sales volumes of ingredient products, lower sales of infant base powder, and increased incremental interest.
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