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Synlait Milk Limited (ASX:SM1)

ALERT: Price-sensitive ASX Announcement for SM1
Current share price for SM1 : $0.330 -0.08 (-19.51%)+
Announcement
Release
23 Mar 2026 7:30AM
Price at Release
$0.410
Full Release
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Summary
Synlait Milk Limited reported its financial results for the six months ended 31 January 2026. The company experienced a net loss after tax of $71.9 million, compared to a profit of $19.6 million in the corresponding period of the previous year. This was partly attributed to a decrease in revenue from $779 million to $778 million and an increase in cost of sales. The financial statements highlighted significant expenditures related to employee costs and energy. The company is undergoing structural changes, including the sale of its North Island operations, expected to be completed by April 2026. The directors maintain confidence in the company's future profitability, supported by actions to improve operational performance and the anticipated completion of an asset sale. The financial position as of January 2026 shows total assets of $1.78 billion and total liabilities of $1.07 billion.
Key Points
  • Net loss after tax of $71.9 million for the period ended 31 January 2026.
  • Revenue decreased to $778 million from $779 million in the prior period.
  • Significant expenditures in employee costs and energy.
  • Ongoing sale of North Island operations, completion expected by April 2026.
  • Total assets reported at $1.78 billion, liabilities at $1.07 billion.
  • Directors expect future profitability improvement and operational gains.
IMPORTANT NOTE: This information is autogenerated and has not been reviewed for accuracy or completeness. You should refer to the full announcement here for further information.