News | Business
7 Apr 2020 6:22
NZCity News
NZCity CalculatorReturn to NZCity

  • Start Page
  • Personalise
  • Sport
  • Weather
  • Finance
  • Shopping
  • Jobs
  • Horoscopes
  • Lotto Results
  • Photo Gallery
  • Site Gallery
  • TVNow
  • Dating
  • SearchNZ
  • NZSearch
  • Crime.co.nz
  • RugbyLeague
  • Make Home
  • About NZCity
  • Contact NZCity
  • Your Privacy
  • Advertising
  • Login
  • Join for Free

  •   Home > News > Business

    Shares in baby formula supplier Synlait Milk have slumped after an earnings downgrade

    Shares in baby formula supplier Synlait Milk have slumped after an earnings downgrade


    The company is the key infant formula supplier for A2 Milk.

    Synlait says market consolidation in China has meant it won't achieve expected profits this year, because of much lower infant powder base sales .

    The company expects profits for the year to July 31 to be 70-to-85 million dollars, compared to last year's 82-million.

    Soon after the share market opened, Synlait's share price fell by 14 per cent.

    Synlait hasn't felt the impact of the coronavirus outbreak yet - but says it poses a risk.

    © 2020 Newstalk ZB, NZCity


     Other Business News
     06 Apr: TradeMe is introducing new measures to continue business during Lockdown
     06 Apr: The Government says Technological capability is the key to contact tracing for Covid-19
     06 Apr: The infrastructure minister may ban log exports so the wood can be used as a priority in New Zealand
     06 Apr: Coronavirus distancing measures lifted as Cyclone Harold lashes Vanuatu
     06 Apr: Prices on items such as whiteware and webcams ... had a surge in prices in March
     06 Apr: A "colossal" number of Auckland Airport shares are going up for sale to keep the airport going after the Covid-19 pandemic
     06 Apr: Israel Folau could be out of pocket if Rugby Australia are forced into insolvency
     Top Stories

    RUGBY RUGBY
    The Super Rugby champion Crusaders have attempted to justify several players breaching New Zealand's lockdown rules More...


    BUSINESS BUSINESS
    TradeMe is introducing new measures to continue business during Lockdown More...



     Today's News

    Rugby:
    The Super Rugby champion Crusaders have attempted to justify several players breaching New Zealand's lockdown rules 5:56

    Netball:
    Netball New Zealand decided it was their duty to save the Tactix 5:06

    Business:
    TradeMe is introducing new measures to continue business during Lockdown 22:27

    Business:
    The Government says Technological capability is the key to contact tracing for Covid-19 21:57

    Business:
    The infrastructure minister may ban log exports so the wood can be used as a priority in New Zealand 18:57

    Cricket:
    One of New Zealand cricket's first big-hitting batsmen has died 18:37

    Business:
    Coronavirus distancing measures lifted as Cyclone Harold lashes Vanuatu 18:27

    International:
    Scientists translate coronavirus spike protein into music, revealing more about its structure 18:07

    Law and Order:
    A man and a woman have appeared in court charged with breaching the lockdown rules in Wellington - in apparently unconnected cases 18:07

    Rugby League:
    The Warriors want to hear more from the NRL before reacting to Todd Greenberg's first concession that the competition could proceed without them 17:57


     News Search






    Power Search


    © 2020 New Zealand City Ltd