Synlait Milk: 1H23 Result — Curdling Continues
Following on from Synlait Milk's (SML) material FY23 NPAT downgrade on 17 March 2023, the 1H23 result showed (1) its opex base is much higher than...
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Synlait Milk (SML): 1H23 Result – Initial Impressions
Synlait Milk (SML) has released a disappointing 1H23 result with reported NPAT of NZ$4.8m, versus our forecast of NZ$5.5m; Gross profit was higher...
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Synlait Milk: As Clear As Milk
Despite confirming consensus expectations less than three months ago, Synlait Milk's (SML) -60% FY23 NPAT downgrade again highlights (1) the high...
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Synlait Milk (SML): FY23 Guidance – Déjà Vu – Another Downgrade
Synlait Milk (SML) has provided first-time FY23 NPAT guidance of NZ$15-25m, wherein its guidance follows its late December 2022 1H23 (six months to...
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Synlait Milk: Timing Is Everything?
Synlait Milk's (SML) 1H23 guidance for normalised NPAT to be below 1H22 (NZ$14.5m) appears to be a timing issue — it is not quite as the headline...
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