February 13, 2020 / 12:37 AM / 4 days ago

BRIEF-Synlait Milk Expects FY20 Earnings Guidance Between NZ$70-85 Mln NPAT

Feb 13 (Reuters) - Synlait Milk Ltd:

* EXPECTS ITS FULL YEAR 2020 EARNINGS GUIDANCE TO BE BETWEEN NZ$70 MILLION AND NZ$85 MILLION NET PROFIT AFTER TAX

* SYNLAIT’S HY19 NPAT WAS NZ$37.3 MILLION

* EXPECTS HY20 NPAT TO BE IN RANGE OF NZ$26.5 MILLION-NZ$28.5 MILLION FOR 6 MONTHS ENDED 31 JAN 2020

* CAN CONFIRM THERE HAS BEEN NO MATERIAL SHORT-TERM IMPACT ON FINANCIAL PERFORMANCE IN CONNECTION WITH CORONAVIRUS OUTBREAK

* SAYS CORONAVIRUS OUTBREAK REPRESENTS SOME DOWNSIDE RISK GOING FORWARD

* EXPECT FY20 PROFITS TO CONTINUE TO GROW, WITH RATE OF PROFITABILITY INCREASING AT LEAST AT SIMILAR RATE TO THAT OF FY19 OVER FY18

* STILL ANTICIPATES STRONG GROWTH IN CONSUMER-PACKAGED INFANT FORMULA SALES VOLUMES OVER FULL YEAR Source text for Eikon: Further company coverage:

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