SML
30/05/2014 08:42
FORECAST
REL: 0842 HRS Synlait Milk Limited (NS)
FORECAST: SML: Synlait Milk revises FY2014 forecast earnings
A reduced advantage from a favourable product mix in the second half of the
year, and a consistently high New Zealand foreign exchange rate has resulted
in a reduction in forecast net profit after tax of approximately $7.5 million
for the financial year.
The forecast FY2014 net profit after tax has been revised from a range of
$25.0 to $30.0 million to a range of $17.5 to $22.5 million. The prospectus
forecast is $19.8 million.
International commodity price volatility coupled with a high New Zealand
foreign exchange rate has resulted in the forecast milk price for the FY2014
season being expanded from a range of $8.30 to $8.40 per kgMS to $8.20 to
$8.40 per kgMS.
The new season forecast milk price for FY2015 is $7.00 per KgMS.
End CA:00251053 For:SML Type:FORECAST Time:2014-05-30 08:42:31
Price at posting:
$3.25 Sentiment: None Disclosure: Held
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