Podcasts about synlait milk

James Hardie’s $14 billion deal wasn’t welcomed by the market, so was it done at the right time and for the right price? MARKET WRAP: ASX200: up 0.07%, 7,936 GOLD: $3,026 US/oz BITCOIN: $138,260 AUD Staples were down 1.7% Discretionary finished up 1.1%, with Wesfarmers, Aristocrat and Harvey Norman higher. The Lottery Corporation announced its CEO will step down at the end of the financial year, but shares managed to stay up 0.2%. NAB 2.2% higher, Westpac up 1.4%, Commbank 1.4% to the good, and ANZ up 0.8%. Going backwards by 26% was Helia which told the market its contract with Commonwealth Bank could expire by the end of the year. New Zealand-based Synlait Milk dropped 12%, despite posting a half-year net profit of NZ$4.8 million. Woolworths shedding 1.7% and Coles losing 2.1% CURRENCY UPDATE: AUD/USD: 62.89 US cents AUD/GBP: 48.6 pence AUD/EUR: 58 Euro cents AUD/JPY: 94 Japanese yen AUD/NZD: 1.09 NZ dollars See omnystudio.com/listener for privacy information.

Wall Street started the new trading week higher across the key indices as investors remain optimistic that President Donald Trump may hold back from implementing some of his tariff plans that could lead to an escalated trade war and economic slowdown in the US. The Dow Jones rose 1.42% on Monday, the S&P500 climbed 1.76% and the tech-heavy Nasdaq ended the day up 2.27%.Across the European markets on Monday, markets in the region closed slightly lower as investor optimism around Trump easing tariffs faded. The STOXX 600 fell 0.13%, Germany's DAX lost 0.17%, the French CAC dropped 0.26% and, in the UK, the FTSE100 ended the day down 0.1%.Asia markets closed Monday's session mixed as Trump's reciprocal tariff deadline of April 2 draws closer. South Korea's Kospi Index lost 0.42%, and Japan's Nikkei fell 0.18%, while Hong Kong's Hang Seng rose 0.91% and China's CSI index rose 0.51%.Locally to start the week, the ASX200 seesawed between positive and negative before ending the day just 0.07% higher as a banking rally offset heavy losses among staples, tech and industrials stocks.Investors took some profits from the supermarket giants yesterday following a strong rally for both Coles and Woolworths on Friday amid the lack of evidence of price gauging found by the ACCC in their investigation.Synlait Milk shares tumbled over 8% on Monday after the milk producers' latest results failed to impress investors despite the NZ-based company reporting a swing to profitability with a 105% increase in NPAT to $4.8m.And global building materials and fibre cement company James Hardie Industries weighed on the market gains yesterday following the company announcing it has entered into an agreement to acquire US-based AZEK which is a leader in providing high-performance, low-maintenance building products and solutions. Investors fled the stock upon release of the announcement as the deal is valued $14bn, which is an expensive multiple to pay, around 23 x EBITDA compared to JHX current multiple of 12x.What to watch today:Ahead of Tuesday's trading session in Australia the SPI futures are anticipating the ASX will open the day up 0.45% tracking Wall Street's gains overnight.On the commodities front this morning oil is trading 1.25% higher at US$69.13/barrel, gold is down 0.4% at US$3011.82/ounce and iron ore is down 0.15% at US$102/tonne.The Aussie dollar has further strengthened against the greenback to buy US$0.62, 94.72 Japanese Yen, 48.62 British Pence, and NZ$1.09.Trading Ideas:Bell Potter has increased the rating on Catalyst Metals (ASX:CYL) from a hold to a buy and have raised the 12-month price target on the gold production and development company from $4.45 to $5.50 following the company's announcement of the sale of its non-core Henty Gold Mine to Kaiser Reed to simplify the business, enable greater focus on the expansion and exploration of the flag ship Plutonic Gold Operation and adding a clow cost and rapid option to unlock value at the Bendigo Project.And Trading Central has identified a bearish signal on ARB Corporation (ASX:ARB) following the formation of a pattern over a period of 8-days which is roughly the same amount of time the share price may fall from the close of $34.00 to the range of $26.25 to $27.50 according to standard principles of technical analysis. 

In the US on Monday the S&P500 and Nasdaq fell sharply to start the week lower on investor concerns about the AI bubble bursting due to the emergence of Chinese startup DeepSeek which has possibly made a competitive AI model for a fraction of the cost of the billions Silicon Valley is spending in the space. The Nasdaq tumbled 3.07% and the S&P500 lost 1.46%, while the Dow Jones ended the day down 0.65%.European markets closed slightly lower on Monlday as investors reacted to the breakout of a new Chinese AI competitor. The STOXX 600 fell 0.07%, Germany's DAX lost 0.53%, the French CAC fell 0.27% and, in the UK, the FTSE100 ended the day flat.Across the Asia region, markets closed mostly higher on industrial profits in China and on the emergence of an AI rival in China. Japan's Nikkei fell 0.92% in the days after the Bank of Japan increased the country's cash rate to the highest level in 17-years, while Hong Kong's Hang Seng rose 0.66%, China's CSI index added 0.41% and South Korea's Kospi Index gained 0.85%. China's industrial profits jumped 11% from on the PCP, but for the year profits declined for a third straight year in data out yesterday for the month of December.The local market was closed on Monday for the Australia Day holiday but on Friday the ASX200 posted a 0.36% gain on Friday to end a strong week on the local index following strength in the US on Thursday and strong corporate earnings reports boosting investor sentiment.Synlait Milk soared 24% on Friday after reporting an impressive turnaround in operations in the first half and increased its guidance for the second half, with an outlook to a return to profitability this year. The milk producer underwent an aggressive cost cutting strategy through reducing head count and is set to increase prices to drive margin appreciation in the second half.Oil producers locally on Friday tumbled tracking the declining price of oil amid Trump's comments urging OPEC plus to bring down the price of oil.What to watch today:Ahead of the first trading session of the new trading week the SPI futures are anticipating the ASX will open the day up 0.17%.On the commodities front this morning oil is trading 2.06% lower at US$73.14/barrel, gold is down 1.05% at US$2741/ounce and iron ore is flat at US$101.34/tonne.The Aussie dollar has strengthened overnight against the greenback to buy 62.85 US cents, 97.24 Japanese Yen, 50.28 British Pence and 1 New Zealand dollar and 11 cents.Trading Ideas:Bell Potter has slightly decreased the 12-month price target on Kogan.com (ASX:KGN) from $5.30 to $5.10 and maintain a hold rating on the online retailer following the release of the company's preliminary 1H25 update including adjusted EBITDA missing expectations driven by an incremental increase in marketing investment during the promo period and the Mighty Ape re-platforming related issues which persisted through October.And Trading Central has identified a bearish signal on Healius (ASX:HLS) following the formation of a pattern over a period of 290-days which is roughly the same amount of time the share price may fall from the close of $1.41 to the range of $0.70 to $0.85 according to standard principles of technical analysis.

The market has had its best week of the year so far and Laura is solo today to recap that performance. She discusses Trump’s potential Chinese tariffs and the impact that uncertainty around their implementation has had on markets, the performance of each of the sectors with consumer discretionary seeing the largest gains, and talks through the stocks that caught attention including Synlait Milk, 4DMedical, and Rio Tinto. The content in this podcast is prepared, approved and distributed in Australia by Commonwealth Securities Limited ABN 60 067 254 399 AFSL 238814. The information does not take into account your objectives, financial situation or needs. Consider the appropriateness of the information before acting and if necessary, seek appropriate professional advice.See omnystudio.com/listener for privacy information.

Synlait Milk's outgoing chief executive, on his reasons for stepping down after two years and nine months in the job.See omnystudio.com/listener for privacy information.

Wall St opened the week with gains to close out a winning month across the major averages with the Dow adding 1.8% in September while the S&P 500 gained 2% and the Nasdaq added 2.7% over the September month of trading. The Dow Jones rose 0.04% to a fresh record high, while the S&P500 added 0.4% and the Nasdaq ended the day up 0.4%. The rally on Monday followed Fed Chair Jerome Powell's press conference indicating the rate cuts will continue but likely not as aggressively as the US economy shows signs of resilience against easing inflation. Stellantis shares dropped 12.52% on Monday in the U.S. after the Jeep and RAM manufacturer lowered earnings guidance amid a worsening U.S. economy outlook. GM and Ford shares also fell on Monday.In Europe overnight it was a sea of red across the region for the last trading day of September in a pullback from the records set in the region on Friday. The STOXX 600 lost 0.95%, Germany's DAX fell 0.76%, the French CAC lost 2% and, in the UK, the FTSE100 ended the day down 1.01%.Across the Asia region on Monday China's record rally continued with stocks rallying to their best day in 16-years following stimulus measure announcements out of Beijing last week.The Aussie market scaled 0.7% higher to a fresh record close on Monday as 9 of the 11 sectors ended the day higher led by energy stocks rallying on the rising price of oil amid fresh attacks from Israel on Lebanon.Iron ore miners also felt some relief on Monday on the rising price of iron ore following a material stimulus package announced out of China last week to help reignite economic growth post pandemic. China's manufacturing activity contracted sharply in September though amid subdued demand in the region while production expanded for an 11th straight month in September in China, but new orders fell.Liontown Resources rallied on Monday after the lithium miner completed its first shipment of lithium spodumene concentrate to China and spot sales starting from its flagship mine in WA.What to watch today:Ahead of Tuesday's trading session on the ASX, the SPI futures are anticipating the local market will commence the first trading session of October down 0.4%.On the commodities front this morning, oil is up 0.2% at US$68.30/barrel, gold is down almost 1% at US$2634/ounce and iron ore is up 0.5% at US$92.98/tonne.The Aussie dollar has strengthened again overnight to buy US$0.69, 99.33 Japanese Yen, 51.65 British Pence and NZ$1.09.Trading Ideas:Bell Potter has decreased the 12-month price target on Synlait Milk (ASX:SM1) from 47cps to 42.5cps and maintain a hold rating on the milk processing company following the release of the company's FY24 results including adjusted EBITDA consistent with expectations and previous guidance. Sales rose 2% in FY24, and no guidance was issued. Bell Potter maintains a hold rating on the company as the outlook remains uncertain for Synlait Milk given its reliance on retaining milk supply post FY26 and convincing farmers to withdraw cessation notices.And Trading Central has identified a bullish signal on KMD Brands (ASX:KMD) following the formation of a pattern over a period of 20-days which is roughly the same amount of time the share price may rise from the close of 47cps to the range of 57 cents to 59 cents according to standard principles of technical analysis.

Synlait Milk has reported a net loss of $182.1 million and stumped up with a one-off payment to try to keep supplying South Island farmers. The embattled dairy processor reported its full-year results to July 31 on Monday with revenue up 2 percent to $1.64 billion. It took a total non-cash impairment of $114.6 million during the year against its long-term assets. CEO Grant Watson says the 2024 financial year was a difficult one - but things look to be in a better position for next year. LISTEN ABOVESee omnystudio.com/listener for privacy information.

Synlait Milk has reported a net loss of $182.1 million and stumped up with a one-off payment to try to keep supplying South Island farmers. The embattled dairy processor reported its full-year results to July 31 on Monday with revenue up 2 percent to $1.64 billion. It took a total non-cash impairment of $114.6 million during the year against its long-term assets. CEO Grant Watson says the 2024 financial year was a difficult one - but things look to be in a better position for next year. LISTEN ABOVESee omnystudio.com/listener for privacy information.

Shareholders in embattled dairy company Synlait Milk have voted overwhelmingly to approve a range of measures to restore its finances and save the company.

Synlait could be going from the cream of the crop to skimming the edge of survival.  Shareholders of the dairy processor are gathering at its Dunsandel site today to vote on a proposed $218 million capital raise.  Board chair George Adams told Mike Hosking his confidence is high, and it would allow Synlait to move forward from the de-leveraging.  He says they'll then focus on drawing their farmers back and delivering good business.  If voted down, Synlait has warned it will end up in some sort of insolvency process.  LISTEN ABOVE See omnystudio.com/listener for privacy information.

The largest investor of struggling Canterbury milk processor, Synlait, will increase its ownership if its planned equity raise gets approval.  China's Bright Dairy's committing to pay 60 cents per share for $185 million of stock to lift its stake of the company to 65.3%.  Board chair George Adams says it's critical for Synlait's future - after it told the Australian securities exchange more than half of its 280 suppliers want to leave in June.  Adams told Mike Hosking the farmers' cessation notices were a message to the business as they take two years to take effect.  He says he's thrilled for their group of loyal farmers.  LISTEN ABOVE See omnystudio.com/listener for privacy information.

Wall Street closed higher on Friday to end the best week across the major averages in 2024, posting a major comeback from the mass exodus of equities that started August on a very sour note. The Nasdaq rose 0.21% on Friday and 5.2% for the week, the S&P500 added 0.2% on Friday and 3.9% for the week and the Dow Jones rose 0.24% on Friday and 2.9% for the week. Economic data released late last week was the catalyst for Friday's rally with retail sales data out on Thursday coming in higher than expected while weekly jobless claims fell for a second week in a row. The mega cap rebound peaked last week with Nvidia gaining 18% over the 5-trading days while Apple and Microsoft rose 4% and 3% respectively for the week.Over in Europe markets mostly ended the week on a positive note with the STOXX 600 index adding 0.31% on Friday and a record weekly gain of 2.4%. Germany's DAX rose 0.77% on Friday, the French CAC added 0.35% and, in the UK, the FTSE100 ended the day down 0.43% following the release of UK inflation data showing an uptick to 2.2% in July and retail sales coming in at a rise of 0.5% for July from a 0.9% decline in June.Across the Asia markets on Friday, Japan's Nikkei posted its best week in 4-years with a rise of 3.64% on Friday while the index was up 8.67% over the week. South Korea's Kospi Index rose 1.99% on Friday, Hong Kong's Hang Seng added 1.81% and China's CSI index ended the day up 0.11%.Locally on Friday, the ASX200 rose 1.34% despite RBA governor Michele Bullock saying thinking about rate cuts in Australia is still too premature as the US prepares for rate cuts likely in September. For the week, the ASX200 posted a gain of 2.3% as corporate earnings results this reporting season are broadly in-line with expectations.A2 Milk shares rose 5% on Friday after the infant formula company settled its dispute with NZ-based dairy processing company Synlait Milk.Magellan Financial shares also rose 3% on Friday a day after the fund manager released full year results including a 31% jump in statutory net profit after tax and a final dividend declared of 28.6cps.What to watch today:Ahead of the first trading session of the new week the SPI futures are anticipating the ASX to open the day down 0.18%.On the commodities front this morning oil is trading down 0.4% at US$76.35/barrel, gold is down 0.15% at US$2504/ounce, and iron ore is trading 0.75% lower at US$97.81/tonne.The Aussie dollar has strengthened to buy US$0.67 cents, 98.63 Japanese Yen, 51.53 British Pence and NZ$1.10.Trading Ideas:Bell Potter has decreased the 12-month price target on Nufarm (ASX:NUF)and maintain a hold rating on the leading producer of ag-chem products globally following a trading update out of the company with softer-than-expected trading in North America and Europe leading to the company downgrading FY24 EBITDA expectations from $350-$390m to $300m-$330m.And Trading Central has identified a bullish signal on Australian Clinical Labs (ASX:ACL) following the formation of a pattern over a period of 56-days which is roughly the same amount of time the share price may rise from the close of $2.64 to the range of $3.10 to $3.25 according to standard principles of technical analysis.

There's a belief South Island dairy processor Synlait has been handed a lifeline, but not a life saver.   Shareholders voted 99.6% in favour of taking out a $130 million loan, meaning it can meet its debt payment to banks, due on Monday.  It comes after the company plunged into a $96.2 million first half loss.   Synlait supplier Cameron Henderson told Andrew Dickens that Covid-19 and China's lowering birth rate contributed.   He says the impact on infant formula —as the company's highest valued export— was likely one of several straws breaking the camel's back.   LISTEN ABOVE See omnystudio.com/listener for privacy information.

Synlait Milk will live to see another day after winning shareholder approval for a last-minute loan. The shareholders have approved the company taking out a $130 million loan from Bright Dairy, after a nail-biting waiting period. Synlait chairperson George Adams is 'relieved' the vote worked out. "It wasn't close at all, actually. We had 99.6 percent of our shareholders voting in favour. So it was a landslide."  LISTEN ABOVESee omnystudio.com/listener for privacy information.

Synlait Milk will live to see another day after winning shareholder approval for a last-minute loan. The shareholders have approved the company taking out a $130 million loan from Bright Dairy, after a nail-biting waiting period. Synlait chairperson George Adams is 'relieved' the vote worked out. "It wasn't close at all, actually. We had 99.6 percent of our shareholders voting in favour. So it was a landslide."  LISTEN ABOVESee omnystudio.com/listener for privacy information.

The future of South Island dairy company Synlait Milk is up in the air ahead of a crucial vote to ensure its survival. A special shareholders meeting will be held on Thursday to approve a $130 million loan from its biggest shareholder, China's Bright Dairy. The Country's Jamie Mackay speculates which direction the voters will go. LISTEN ABOVESee omnystudio.com/listener for privacy information.

The future of South Island dairy company Synlait Milk is up in the air ahead of a crucial vote to ensure its survival. A special shareholders meeting will be held on Thursday to approve a $130 million loan from its biggest shareholder, China's Bright Dairy. The Country's Jamie Mackay speculates which direction the voters will go. LISTEN ABOVESee omnystudio.com/listener for privacy information.

Synlait Milk's future is hanging in the balance ahead of an upcoming vote impacting the company. On Thursday, a shareholders meeting will take place to determine if a $130 million dollar loan from China's Bright Dairy will be approved. Synlait chair George Adams unpacks the significance of the upcoming vote. LISTEN ABOVESee omnystudio.com/listener for privacy information.

Synlait Milk's future is hanging in the balance ahead of an upcoming vote impacting the company. On Thursday, a shareholders meeting will take place to determine if a $130 million dollar loan from China's Bright Dairy will be approved. Synlait chair George Adams unpacks the significance of the upcoming vote. LISTEN ABOVESee omnystudio.com/listener for privacy information.

Struggling dairy manufacturer Synlait has asked shareholders to vote in favour of a $130 million lifeline from Chinese shareholder Bright Dairy. The company said a2′s vote would be influential in deciding if the critical shareholder loan needed to pay off bank debt due July 15 went ahead. The Country's Rowena Duncum says the situation's looking dire for Synlait. LISTEN ABOVESee omnystudio.com/listener for privacy information.

Struggling dairy manufacturer Synlait has asked shareholders to vote in favour of a $130 million lifeline from Chinese shareholder Bright Dairy. The company said a2′s vote would be influential in deciding if the critical shareholder loan needed to pay off bank debt due July 15 went ahead. The Country's Rowena Duncum says the situation's looking dire for Synlait. LISTEN ABOVESee omnystudio.com/listener for privacy information.

Struggling dairy processor Synlait has confirmed a significant majority of its farmer suppliers want to leave. The Canterbury-based organisation told yesterday's Australian securities exchange the exodus of most of its 280 suppliers was expected. Dairy insights consultant Stuart Davison says this comes off the back of a 'concerning' 18 months for the business. LISTEN ABOVESee omnystudio.com/listener for privacy information.

Struggling dairy processor Synlait has confirmed a significant majority of its farmer suppliers want to leave. The Canterbury-based organisation told yesterday's Australian securities exchange the exodus of most of its 280 suppliers was expected. Dairy insights consultant Stuart Davison says this comes off the back of a 'concerning' 18 months for the business. LISTEN ABOVESee omnystudio.com/listener for privacy information.

More bad news for Synlait Milk following their recent half-year net loss. The company's shares are down almost 70 percent in the last year. Milford Asset Management's Jeremy Hutton explains how the company can reduce debt and improve their condition. LISTEN ABOVESee omnystudio.com/listener for privacy information.

More bad news for Synlait Milk following their recent half-year net loss. The company's shares are down almost 70 percent in the last year. Milford Asset Management's Jeremy Hutton explains how the company can reduce debt and improve their condition. LISTEN ABOVESee omnystudio.com/listener for privacy information.

It's challenging time for dairy company Synlait. It's had a $96.2 million loss for the six months to January compared to a $4.8 million profit in the previous corresponding period. It's won an extension on a $130-million debt repayment and is reviewing North Island assets including the extensive Pōkeno facilities. Willy Leferink, Synlait Supplier and former Chair of Federated Farmers, told Mike Hosking that the current model is unsustainable. He said this is a result of when Synlait's board decided that they bet on a horse that wasn't allowed to race. LISTEN ABOVESee omnystudio.com/listener for privacy information.

It's a challenging time for cash-strapped dairy giant Synlait. The company is reporting a $96.2 million loss for the six months to January, compared to a $4.8 million profit in the previous corresponding period. It's won an extension on a $130 million debt repayment and is reviewing North Island assets, including the extensive Pōkeno facilities. The Country's Jamie Mackay explains further. LISTEN ABOVESee omnystudio.com/listener for privacy information.

It's a challenging time for cash-strapped dairy giant Synlait. The company is reporting a $96.2 million loss for the six months to January, compared to a $4.8 million profit in the previous corresponding period. It's won an extension on a $130 million debt repayment and is reviewing North Island assets, including the extensive Pōkeno facilities. The Country's Jamie Mackay explains further. LISTEN ABOVESee omnystudio.com/listener for privacy information.

Specialty dairy company Synlait Milk is in a trading halt at its own request as it races to arrange the repayment of a $130 million loan. Anan Zaki has the Business news.

Specialty dairy company Synlait Milk is in a trading halt at its own request as it races to arrange the repayment of a $130 million loan. Anan Zaki has the Business news.

Earnings season is in full swing and we cover a number of companies that have caught our eye: Commonwealth Bank, A2 Milk, Cochlear, Lionstown, Domino's Pizza, Cettire & more.After that we speak to James from the Equity Mates community who has been keeping a close eye on New Zealand dairy player Synlait Milk. Links mentioned:2024 Community SurveyVideo of OpenAI's new text-to-video product SoraEquity Mates Facebook Discussion GroupBen Thompson's thoughts on Apple's Vision Pro (scroll about halfway down)—------Want to keep learning? Check out the Rask + Equity Mates investing courses. We've worked with the team at Rask Invest to produce two great investing courses:Get Started Investing is a free course that covers all the basics of investing and how to start building your portfolioThe Value Investor Program goes deep into stock selection and valuation. For a limited time, we're offering $100 off the Value Investor Program with the code: MATES. —------In the spirit of reconciliation, Equity Mates Media and the hosts of Equity Mates Investing acknowledge the Traditional Custodians of country throughout Australia and their connections to land, sea and community. We pay our respects to their elders past and present and extend that respect to all Aboriginal and Torres Strait Islander people today. —------Equity Mates Investing is a product of Equity Mates Media. This podcast is intended for education and entertainment purposes. Any advice is general advice only, and has not taken into account your personal financial circumstances, needs or objectives. Before acting on general advice, you should consider if it is relevant to your needs and read the relevant Product Disclosure Statement. And if you are unsure, please speak to a financial professional. Equity Mates Media operates under Australian Financial Services Licence 540697. Hosted on Acast. See acast.com/privacy for more information.

Synlait Milk is warning of a potential net loss in its half year results.  The independent milk processor is projecting a 17-to-21-million-dollar loss for the six months to June, down from a net profit of $4.8 million from the same period last year.  It's putting the loss down to rising interest rates and operational costs and lower margins  Ashburton-based Synlait supplier Willy Leferink told Mike Hosking that it's not a short-term problem, as its share price is also dropping.  He says it's a fundamental problem and they'll have to re-capitalise, but at 68 cents a year, that's hard work.  LISTEN ABOVE See omnystudio.com/listener for privacy information.

Wall Street closed mixed on Monday with the Dow Jones rising to a record close, building on the momentum of last week as investors responded to key earnings results and await the release of core inflation data out later this week to determine the broader picture of business and economic stability in the higher interest rate environment. European markets started the week in positive territory across the board as investors continue responding to corporate earnings results out in the region. The local market started the new trading week with a rollercoaster of a session as the key index rose and fell throughout the day before closing 0.4% lower as investors responded to key trading updates and reporting season results. Tech stocks took lead from the Nasdaq's strong rally last week while consumer discretionary stocks rose on resilient results out of some big names.Healthcare giant CSL weighed on the healthcare sector and ASX as a whole yesterday, with its shares falling over 5% on the announcement that the company's top-line results from the Phase 3 trial evaluating the efficacy and safety of its CSL112 drug in reducing the risk of major adverse cardiovascular events in patients, did not meet its primary efficacy endpoint reduction at day 90, and that the company now has no near-term plans to file for regulatory approval of the drug candidate.Reporting season ramped up yesterday with JB Hi-Fi rallying 7% during the session after posting results that topped analysts' expectations. Despite revenue, profit and the company's interim dividend all declining, investors bought into the tech retailer as the results were not as bad as were expected and reflected the company's resilience amid the declining consumer spend environment.Synlait Milk also disappointed investors yesterday, with shares dropping 14% after the company warned investors to brace for a net loss in the range of $17m-$21m for the six-month period ending 31st January mainly due to financing costs and changes in margins.Rail freight operator, Aurizon, was the talk of the market yesterday after posting strong first half results including revenue up 16%, NPAT growth of 82% to $237m, EPS up 82% and increased its dividend per share by 39% to 9.7ps. Aurizon also reported a 169% rise in free cashflow, attributing the impressive first half results to a solid performance in the Network and Coal businesses and continued revenue and volume growth in Bulk and Containerised freight.On the economic calendar today, NAB Business Confidence data for January and Westpac Consumer Confidence data for February are released this morning with the expectation of a rise in business confidence but a slide in consumer confidence.What to watch today:Ahead of the local trading session the SPI futures are expecting the ASX to open Tuesday's session 0.26% higher.On the commodities front this morning, oil is flat at US$76.80/barrel, gold is down 0.32% at US$2017/ounce, and iron ore is flat at US$128/tonne.AU$1.00 is buying US$0.65, 97.62 Japanese Yen, 51.65 British Pence and NZ$1.07.Trading Ideas:Bell Potter has maintained a buy rating on Propel Funeral Partners (ASX:PFP) and have raised the 12-month price target on the company from $5.90 to $6.20 following the company's successful raising of ~$90m via a $80m institutional placement and $10m non-underwritten share purchase plan at $5.15/share. Proceeds from the raising are to be used to pay down debt to provide financial flexibility to pursue further growth initiatives, including acquisitions.Trading Central has identified a bullish signal on JB Hi-Fi (ASX:JBH) following the formation of a pattern over a period of 20-days which is roughly the same amount of time the share price may rise from the close of $60.58 to the range of $60.90 to $61.90 according to standard principles of technical analysis.

FoodBev Media's David Echevarría rounds up this week's food and beverage news, including: A2 Milk and Synlait Milk enter Arbitration; Newly Weds Foods to be bought by Redwood Holdings for $4bn – Reuters; EU set to ban products made with forced labour; and more.

Synlait Milk has reported an annual loss of $4.3 million, following a difficult few months for the industry. The Canterbury-based milk processor reportedly earned $38.5 million the previous year. Chief executive Grant Watson aims to turn the company's profit around by diversifying growth strategies and reducing internal costs. "There's a huge amount of effort going on throughout the business to strengthen Synlait up and have it return back to being a very profitable business again." LISTEN ABOVESee omnystudio.com/listener for privacy information.

Synlait Milk has reported an annual loss of $4.3 million, following a difficult few months for the industry. The Canterbury-based milk processor reportedly earned $38.5 million the previous year. Chief executive Grant Watson aims to turn the company's profit around by diversifying growth strategies and reducing internal costs. "There's a huge amount of effort going on throughout the business to strengthen Synlait up and have it return back to being a very profitable business again." LISTEN ABOVESee omnystudio.com/listener for privacy information.

Falling international demand for infant formula, high inflation and extreme weather have caused the specialty dairy company Synlait Milk fall into the red. Gyles Beckford has the business news.

An eroding relationship may be one of the reasons the a2 Milk Company has cancelled its exclusive supply agreement with the specialty milk producer Synlait Milk. Gyles Beckford has the business news.

A2 Milk has cancelled the exclusive manufacturing supply arrangement it had with infant formula maker Synlait Milk.  The reason A2 has given is that Synlait has fallen below delivery standards.  Adjunct Professor at Lincoln University, Jacqueline Rowarth, told Mike Hosking that Synlait is coming off worse in this situation as they now need to find someone who will buy their product.  She said that due to the falling market and increase in stress, people may think the premium A2 had isn't worth it.  LISTEN ABOVE See omnystudio.com/listener for privacy information.

A2 Milk has cancelled the exclusive manufacturing supply arrangement it has with infant formula maker Synlait Milk, citing a decline in delivery standards. Synlait's shares fell 10 percent following the cancellation of the deal. Dairy Insights Consultant Stuart Davison says this isn't good for the company, but they will be able to bounce back quickly. "They're definitely in trouble- but let's be clear, they're not silly. They'll deal with it, they've dealt with something like this before, and they've got other situations going on." LISTEN ABOVESee omnystudio.com/listener for privacy information.

A2 Milk has cancelled the exclusive manufacturing supply arrangement it has with infant formula maker Synlait Milk, citing a decline in delivery standards. Synlait's shares fell 10 percent following the cancellation of the deal. Dairy Insights Consultant Stuart Davison says this isn't good for the company, but they will be able to bounce back quickly. "They're definitely in trouble- but let's be clear, they're not silly. They'll deal with it, they've dealt with something like this before, and they've got other situations going on." LISTEN ABOVESee omnystudio.com/listener for privacy information.

Synlait Milk's shares surged by 16 percent after renewing their license to produce infant formula for the world's most populous nation. Investors regained confidence in the brand after they successfully secured the right to produce A2 Milk's infant formula for the Chinese market. HighGround Dairy global dairy consultant Stuart Davison says this unexpected jump was a result of the market not pricing the registration in. "A 16 percent gain in one day tells you that there was a fair bit of uncertainty behind that, so I think the investors weren't as confident. But also on the back of that, you've got to look at the debt that's plaguing Synlait at the moment."  LISTEN ABOVE  See omnystudio.com/listener for privacy information.

Synlait Milk's shares surged by 16 percent after renewing their license to produce infant formula for the world's most populous nation. Investors regained confidence in the brand after they successfully secured the right to produce A2 Milk's infant formula for the Chinese market. HighGround Dairy global dairy consultant Stuart Davison says this unexpected jump was a result of the market not pricing the registration in. "A 16 percent gain in one day tells you that there was a fair bit of uncertainty behind that, so I think the investors weren't as confident. But also on the back of that, you've got to look at the debt that's plaguing Synlait at the moment."  LISTEN ABOVE  See omnystudio.com/listener for privacy information.

Maury Leyland Penno and her husband John Penno were previously high flyers in New Zealand's lucrative dairy industry. Now the former Fonterra executive and founder of dairy company Synlait Milk are betting big on a plant-based protein. They are on a mission to create a new food system for Aotearoa, using technology that taps into one of the world's most abundant and sustainable food sources: protein from green leaves. Kathryn talks to Maury about the business Leaft, the motivation behind the plant based push and why she wants to change the industry she grew up in. She will be speaking at the E Tipu IFAMA World Conference in Christchurch next month.

The Aussie share market declined this week, falling 0.5% (Mon-Thu), as the materials sector weighed down on the market the most, dropping 2.2%. Financials, consumer discretionary and utilities are also lower, while communication services and industrials advanced.   In this week's wrap, Sophia covers:(0:16) The demand outlook from the leading iron ore importing country(1:08) China's crippling property market(1:49) Bell Potter's forecast for Mineral Resources (ASX:MIN)(2:48) The best performing stocks in the ASX200(3:57) The most traded stocks & ETFs by Bell Direct clients(5:00) Four economic news items to watch out for

Synlait Milk shares have taken a dive on the share market today. The company's shares have fallen by 27 percent, taking losses for Synlait to over 50 percent for the first third of 2023. Milford Asset Management Equities Analyst Jeremy Hutton says the 'ominous' trading halt on Friday indicated that bad news was coming for the company. Jeremy Hutton says Synlait Milk's profit decline was caused by A2 Milk showcasing that lower volumes of infant formula would be required going forward. LISTEN ABOVE  See omnystudio.com/listener for privacy information.

Synlait Milk shares have taken a dive on the share market today. The company's shares have fallen by 27 percent, taking losses for Synlait to over 50 percent for the first third of 2023. Milford Asset Management Equities Analyst Jeremy Hutton says the 'ominous' trading halt on Friday indicated that bad news was coming for the company. Jeremy Hutton says Synlait Milk's profit decline was caused by A2 Milk showcasing that lower volumes of infant formula would be required going forward. LISTEN ABOVE  See omnystudio.com/listener for privacy information.

Wall Street extended gains into a third straight session on Friday and the US market posted a second straight quarter of gains despite turbulence during the three-month period around the unfolding of a potential global banking crisis. On Friday the Nasdaq rose 1.7%, the Dow Jones added over 400 points and the S&P500 rose 1.4%. Sentiment in the US was boosted last week by US core personal consumption expenditures price index, the Fed's preferred measure of inflation, coming in below expectations at 4.6% in yet another sign inflation has peaked in the US. For the quarter the tech-heavy Nasdaq soared 17.6% as investors regain appetite for growth stocks, while the Dow Jones rose 0.4% and the S&P500 added 7.4%.Over in Europe markets closed higher again buoyed by headline inflation cooling to 6.9% in March from 8.5% in February, a preliminary report showed. Germany's DAX added 0.7%, the French CAC added 0.81% and, in the UK, the FTSE100 rose 0.15%. For the quarter, the STOXX600 added 7.05% despite a few weeks of banking turmoil.The ASX ended Friday's session up 0.78% driven by a 1.88% rise in materials stocks, while healthcare stocks added 1.09% in the last trading session of the week. For the week, the key local index rose 3.20% as global fears of a banking crisis continued to ease.What to watch today:The strength overseas for the last quarter drives the SPI futures to anticipate the ASX to open 0.63% higher to start the new trading week and month.On the commodities front oil is trading 6.77% higher at US$80.87/barrel after OPEC oil producers announced a surprise cut in oil output to support market stability following the recent dive in oil prices. Saudi Arabia is cutting its output by 500,000 barrels per day while Iraq is cutting by 211,000 barrels per day, among other countries making cuts to output. Gold is trading down 0.73% at US$1965.73/ounce and iron ore is up almost 0.8% at US$127/tonne.The Aussie dollar is buying US$0.67, 88.93 Japanese Yen, 54.89 British Pence and NZ$1.07.Trading Ideas:Bell Potter has downgraded its rating on The A2 Milk Company (ASX:A2M) from a buy to a hold, and reduced the price target on the dairy company from $7.65 to $6.80 following the company's infant formula producer, Synlait Milk (ASX:SM1), downgrading its earnings guidance and pushing out its expected GB registration in China. Bell Potter sees the balance dates between A2M and SM1 don't align, as well as cost of goods sold being expected to rise in FY24.Trading Central has identified a bearish signal on TPG Telecom (ASX:TPG) on the 25th of March, following the formation of a pattern over a period of 20-days which is roughly the same amount of time the share price may fall from the close of $4.81 to the range of $4.47 to $4.55 according to standard principles of technical analysis.

The rally on Wall Street continued overnight as investor fears of a regional and global banking crisis continued to ease as President Biden urged federal regulators to take up a set of reforms to safeguard the banking system.Weekly jobless claims in the US increased by 7000 to 19,800, in yet another sign the Federal Reserve's aggressive interest rate action to tackle inflation in the US is starting to take effect. The rise in jobless claims is also another sign the fed could begin easing its rate hike stance. The Dow Jones closed 0.43% higher on Thursday while the S&P500 added 0.57% and the tech-heavy Nasdaq rose 0.73%.Over in Europe, markets continued to rally as investor fears of a banking crisis also continued to ease in the region. UBS shares jumped 3.4% again on Thursday as investors responded to the news of Sergio Ermotti retaking his position as CEO ahead of the Credit Suisse takeover. Germany's DAX added 1.26%, the French CAC added 1.06% and, in the UK, the FTSE100 rose 0.74%.Locally yesterday, the ASX jumped 1.02% joining the global rally as banking crisis fears ease, with technology stocks leading the gains yesterday as the sector closed up 1.7%. Materials and Financial stocks also felt some relief yesterday following a week of turbulence in these respective sectors.What to watch today: Ahead of the local trading session here in Australia the SPI futures are anticipating the local market to open 0.53% higher, extending on the global rally from the past 2-sessions.Taking a look at commodities, crude oil is trading almost 2% higher at US$74.37/barrel, gold is up 0.81% at US$1979.94/ounce and iron ore is also up 0.8% at US$125.50/tonne. Stocks trading ex-dividend today include Harvey Norman (ASX:HVN), and Russell Investments High Dividend Australian Shares ETF (ASX:RDV). If you've been thinking about these stocks, it might be worth considering buying in today as stocks trading ex-dividend generally trade lower on the ex-dividend date.The Aussie dollar is buying US$0.67, 89.05 Japanese Yen, 54.89 British Pence and NZ$1.07.Trading Ideas:Bell Potter has downgraded its price target on Synlait Milk (ASX:SM1) from $3.20 to $2.55 but maintain a buy rating on the company as the dairy company faces a few unknowns in the current environment including whether it can deliver acceptable returns on the new Pokeno nutritionals customer, as well as successfully navigating A2 Milk's new-GB registration in China. The company also faces higher costs of production due to the volume uplift for the new Pokeno customer.Trading Central has identified a bullish signal on Regis Resources (ASX:RRL) following the formation of a pattern over a period of 26-days which is roughly the same amount of time the share price may rise from the close of $2.00 to the range of $2.17 to $2.21 according to standard principles of technical analysis. 

The global banking crisis took an historical turn this morning with investment bank, UBS, agreeing to buy Credit Suisse Group in a deal worth $4.5 billion to restore investor confidence in the global banking sector. The crisis worsened on Friday after a fourth bank, the First Republic bank, received a US$30 billion lifeline from a group of big banks including Goldman Sachs and Bank of America, after customers began withdrawing their deposits from First Republic bank amid the collapse of SVB. Shares in First Republic Bank tumbled 33% on Friday to close the week down 72%. On Friday, the Dow Jones closed 1.2% lower, the S&P500 fell 1.1% and the Nasdaq closed down 0.74%. For the week though the Nasdaq rose 4.41% as investors bet on technology and growth stocks ahead of the FOMC meeting this week.Over in Europe, markets closed lower on Friday as investors digest the fallout from Credit Suisse accepting financial help to stabilise the banking system. Germany's DAX fell 1.33% on Friday while the French CAC lost 1.43% and in the UK the FTSE100 shed just over 1%.In Australia, markets closed 0.42% higher on Friday but 2.1% down for the week as the local index was caught up in the global banking crisis driven sell-off. What to watch today:In commodities, oil Is trading 2.36% lower at US$66.74/barrel, gold is up almost 3.6% at US$1988.08 and iron ore is flat at US$132/tonne.The Aussie dollar has slightly strengthened to buy US$0.67, 88.53 Japanese Yen, 54.89 British Pence and NZ$1.07.Ahead of the local trading session the SPI futures are anticipating the ASX to open 1.4% lower as investor sentiment continues to ride on the unfolding global banking crisis.Stocks trading ex-dividend today include HUB24 (ASX:HUB), Adairs (ASX:ADH), and Duratec (ASX:DUR). If you've been thinking about these stocks it might be worth considering buying in today as stocks trading ex-dividend generally trade lower on the ex-dividend date.Trading Ideas: Bell Potter has downgraded its price target on Synlait Milk (ASX:SM1) from $4 to $3.20 but maintain a buy rating on the company. The downgrade in price target comes after the company downwardly revised FY23 NPAT expectations relative to market expectations ahead of its 1H23 result. NPAT guidance has been downwardly projected to now be $15-$25m NZ dollars, which is much lower than Bell Potter's expectations of a forecasted NZ$35.8m and consensus expectations of NZ$50m. Major drivers of the change in NPAT forecast from the company have been attributed to order deferrals from major IMF customers, inflationary cost pressures, lower milk production and higher working capital costs.Trading Central has identified a bearish signal on Ansell (ASX:ANN), following the formation of a pattern over a period of 40-days which is roughly the same amount of time the share price may fall from the close of $26.14 to the range of $20.90 to $21.80 according to standard principles of technical analysis.

US markets snapped the recent rally overnight following the release of key inflation data for August showing the world's largest economy's inflation rate hit 8.3% for the month which is a decline from July's 8.5% but above the market expectations of 8.1%. Investors sharply sold out of stocks broadly on Wall St over concerns the Fed will take even more aggressive action to cool inflation by rising interest rates further. The Dow Jones fell 3.3%, the Nasdaq plunged 4.35% and the S&P500 fell 3.52%.The sell-off extended over to London where the FTSE 100's green run came to an end with the index falling 1.17% while Germany's DAX closed the day down 1.6%, and the French CAC lost 1.4%.Ukraine's recent advances and counterattacks in the nation's recaptured area to 6,000 square kilometres which has impressed the White House and other western allies. From a markets perspective, global markets just want to see de-escalation of tensions to help stabilise inflation and cool the global energy crisis.What to watch today:Locally, the global energy crisis has driven demand for Australian-based energy stocks with the sector up 37.36% YTD as countries look for new supply deals with Australian providers which we have already seen through Woodside Energy (ASX:WDS) signing a supply agreement for the supply of LNG with Europe. This year, the energy sector is one of just two sectors that have posted gains in the current market environment.In commodities, crude oil is trading almost half a percent lower at US$87 a barrel, natural gas is up almost 1%, gold is trading more than 1.2% lower at US$1,703 an ounce, and iron ore is flat around US$104 a tonne.Ahead of the local trading day, ASX futures is expecting the market's green streak to come to an end today, with the futures expecting a fall of 1.75% to start the day on the back of that sharp sell-off in the US overnight.On the economic data front for today, UK inflation data for August is released this afternoon with the market expecting an increase to 10.2% from 10.1% in July.Trading Ideas:Bell Potter maintains a buy rating on The a2 Milk Company (ASX:A2M) and has increased its share price target from $6.35 to $6.60 following recent market updates including its New Zealand baby formula manufacturer Synlait Milk having its licence to produce baby formula for the Chinese market extended until February 2023.Trading Central has identified a bullish signal on Brambles (ASX:BXB) following a pattern forming over a period of 15-days which is roughly the period of time in which the price target between the range of $13.10-$13.40 may be achieved from the close of $12.08, according to standard principles of technical analysis.

The Australian market extended last week's rally into this week with the key index closing the session 1.02% higher, boosted by a surge in materials and technology stocks.The best performing stock today was Nickel Industries (ASX:NIC) soared 6.7% after announcing an upgrade to its Hengjaya Mine Resource, increasing the resource from 2.4m tonnes to 3.7m tonnes of contained nickel metal. Gold Road Resources (ASX:GOR) also lifted just over 5% today. Other stocks that investors bought into today included Mineral Resources (ASX:MIN), with shares in the mining services giant soaring to a fresh record high of $74.20 today during the session. The a2 Milk Company (ASX:A2M) also lifted today following its New Zealand-based baby formula producer for the Chinese market, Synlait Milk (ASX:SM1), being granted renewal of its State Administration for Market Regulation licence to continue manufacturing the baby formula for China until 21 February 2023.Investors sharply sold out of Liontown Resources (ASX:LTR) today despite the company announcing it has executed a letter of award with Zenith Energy (ASX:ZEN), one of Australia's leading independent power producers, to supply electricity to its Kathleen Valley Lithium project in Western Australia for a 15-year period. Other losing stocks today included Sims (ASX:SIM) and Lake Resources (ASX:LKE).The top traded stocks by Bell Direct clients today are Pilbara Minerals (ASX:PLS), Fortescue Metals Group (ASX:FMG) and Lake Resources (ASX:LKE).On the economic calendar for tomorrow, investors will gain an insight into just how confident both consumers and businesses are with current market and economic conditions, with Westpac Consumer Confidence data for September out in the morning followed an hour later by the release of NAB's Business Confidence data for August. US Core inflation data for August is also out later tomorrow night.

Synlait (SML) posts its half-year results and records Net Profit After Tax was up 338% to $27.9 million compared to this time last year. Chinese ADRs might be in for a rough ride with the SEC. José talks to Dr Sebastian Gehricke from Otago Uni's Climate and Energy Finance Group (CEFGroup) which has published a new report on the motivations of ethical fund managers. The CEFGroup's report www.sharesies.com For more share market news, subscribe to Lunch Money, Sharesies' bite-sized email update: https://www.sharesies.nz/lunch-money If you'd like to get in touch, for any reason at all, email recap@sharesies.co.nz or record a voice message: https://anchor.fm/sharesies2/message. Investing involves risk. You aren't guaranteed to make money, and you might lose the money you start with. We don't provide personalised advice or recommendations. Any information we provide is general only and current at the time. For specific advice, speak to a licensed financial advice provider. Sharesies will be paid a fee from Air New Zealand for distributing this offer to Sharesies investors.

When the directive from global food giants, such as Danone and Nestle pledges to source nearly a quarter of their milk globally from regenerative dairy farms by 2025, you pay attention. Announced this week was a unique partnership between Synlait Milk and Danone, AgResearch and the Ministry for Primary Industries' (MPI) Sustainable Food and Fibre Futures Fund to study soil health between conventional and regenerative practices on 10 farms in Waikato, Canterbury & Otago over five years. This week's Change Maker, Hamish Reid, Head of Sustainability & Brand at Synlait says we will achieve added value by profiting from purpose and regenerative meet our consumer's demands. Thanks to our partners at Farmlands for supporting Sarah's Country this season.

The SPI futures are suggesting a flat start to the week for the Aussie share market. On Friday, the ASX200 fell 0.4% and lost 0.8% on the week, falling for the 3rd straight week.  What to watch today:Watch iron ore stocks amid worry of China's Evergrande, retail stocks amid supply-chain issues, and financial stocks given end of quarter profit taking. The oil price rose 3% to US$74.43, to an eight week high. The gold price rose slightly, while the iron ore price slowly bounced off its low, trading at US$120, after falling below US$100 last week. However, iron ore last traded lower on Friday. As a result of this, New York listed BHP and Rio Tinto closed in the red. In corporate news, Synlait Milk (ASX:SM1) forecasts a return to robust profitability. The company says it will return to pre-pandemic levels of profitability by the end of its 2023 financial year. SMI, the milk powder producer, reported a loss of $20 million for its financial year ended July 31, due to disruptions brought on by the pandemic and from its key customer A2 Milk. However, for this current year results will be bolstered as production is ramping up for the new multinational customer and normal business conditions should return. Companies going ex-dividend today include Imdex (ASX:IMD) and Gold Road Resources (ASX:GOR). In economic news, retail sales data will be released on Tuesday and building permit data will be released on Thursday. Trading Ideas: Citi expects Accent's (ASX:AX1) shares to fall amid supply chain disruptions. This is partially due to Nike downgrading its 2022 outlook, as freight and supply issues mean the company can't keep up with strong demand. Citi believe shares in the shoe store giant, Accent with fall to $2.14, however it is expected to maintain a dividend yield of 3.7%. Bullish charting signals have been seen in Exopharm (ASX:EX1), Orthocell (ASX:OCC) and Catapula Group (ASX:CAT), according to Trading Central.

Synlait Milk is pressing ahead with cuts to its workforce.

Yesterday, the Aussie share market reached its highest level of 7,418 points. Today the futures are suggesting the Aussie share market will lift 0.3% or 19 points. What to watch today: Australia awaits news on Victoria, South Australia and NSW lockdown restrictions. Virgin Money (ASX:VUK) are set to report their results today. Temple and Webster (ASX:TPW) reported earnings results this morning. TPW's full year revenue is up 85% and their earnings (EBITDA) are up 141% in the year.  Oil Search (ASX:OSH) have reported their quarterly results, with a 22% up in revenue. Oz Minerals (ASX:OZL) have also reported quarterly results, with upgraded full year production. The copper price surged over 4% to its highest level since June. The price was boosted by the news that China sold less reserves than expected. The iron ore price fell 0.4%, while the oil price rose 0.4% to US$72.18. Trading Ideas: Fresh milk company Synlait Milk (ASX:SM1) was reiterated as a Bell Potter BUY, with an increased price target of $4.40, implying 29% share price growth in a year. Paladin (ASX:PDN), Neometals (ASX:NMT) and Redbubble (ASX:RBL) are all giving off bullish charting signals according to Trading Central. 

A2 Milk's sole infant formula supplier, Synlait Milk, said its half-year profit slumped by 76 per cent to $6.4m, driven by Covid-19 disruption, and said it expected to be "broadly breakeven" in the full year.The full-year outlook has worsened since last December when the company said it expected the 2021 profit to be half that of the previous year's $75.2m.Early this month Synlait withdrew that December guidance due to uncertainty and volatility within its business.In today's result, Synlait's revenue gained 19 per cent to $664.2m while EBITDA fell 29 per cent to $47.7m.Chair Graeme Milne said it was a challenging first half, "and we continue to find ourselves in a period of significant uncertainty and volatility as Synlait faces into several headwinds".A2 Milk - Synlait's biggest customer - has been hit hard as Covid-19 has severely curtailed the important "daigou" unofficial trade channels into China.Synlait said uncertainty was affecting its short-term operations and would impact on the full year's financial result.Chief executive Leon Clement said the company's focus was on mitigating the impact Covid-19 has had its customers."We will need time to get through this, but we remain confident about our future," he said.Synlait has been investing heavily in a bid to diversify its interests away from a2 Milk."Our investment phase is complete. We have the capacity, capability, and customer base to generate significant value," Clement said."Covid-19 hit us late, but we will emerge from the pandemic a stronger, more sustainable Synlait," he said.Synlait signalled earlier this month that it was continuing to experience significant uncertainty and volatility within its business due to ongoing uncertainty in a2 Milk's expected demand for the remainder of 2021 and 2022."Synlait does not currently have sufficient confidence to forecast when this recovery will occur," Clement said."The resulting impact of this on Synlait's business is two-fold: demand for consumer-packaged infant formula remains uncertain, which in turn impacts forward infant base powder production and asset use."Commenting on the ingredients business, Clement said the sudden drop in consumer-packaged infant formula demand, combined with rapidly rising Global Dairy Trade prices, foreign exchange, and a changing product mix, created volatility that limited returns.Furthermore, Synlait said its expectation was that global shipping delays would continue and further impact the 2021.Board and management have considered the above factors and how they will impact Synlait's 2021 profitability."There is still a range of scenarios contributing to the company's profitability, and our current outlook suggests a broadly breakeven FY21 net NPAT result," the company said.While all banking covenant ratios were met during 2021, Synlait has "proactively engaged" with its banking syndicate to increase its leverage ratios to manage any risk at the end of 2021.The 2021 business plan is fully funded by its current banking syndicate.In its result, Synlait said consumer-packaged infant formula sales down 16 per cent to 18,085 tonnes.Lactoferrin production gained up 16 per cent to 13.6 tonnes.Dairyworks, which Synlait bought in 2019 for $112m, reported revenue of $112.6m.Shares in Synlait Milk last traded at $3.41, down 14c or 3.9 per cent from Friday's close.text by Jamie Gray, NZ Herald

Listen to The Hon. Ruth Richardson share the intriguing and focused story of her career. Ruth Richardson rose to international prominence in her role as a reformist minister of Finance in New Zealand in the 1990s - the first and so far only woman to hold this role. Following her political career, Ruth has worked extensively in New Zealand and internationally as a Public Policy Consultant and Board Director. She currently holds a number of Directorships including NZ Merino, Synlait Milk and Bank of China (NZ) and has previously served on numerous Boards including Jade Software, the Reserve Bank, Oyster Bay and Wrightson. In this interview she shares the story of her career, including: Declaring at age 15 that she wanted to be a politician and then strategically pursuing this career path As a change agent and reformist, why she's focused on being respected, not being liked How important family is to her, with a new granddaughter born the morning of the interview!