Agree. I think their one off capex ramp up of the new wet powder facility would have impacted NPAT significantly in that 2H.
Interestingly enough, even though now they have much more capacity, A2 milk demand has been outstripping supply again since numerous supermarkets got rid of the IF purchase limits. So Synlait's new capacity might be getting maxed out again like it did in September 2017.
Lovely result, page-11
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