March 18, 2020 / 7:57 PM / 16 days ago

BRIEF-Synlait Milk Posts HY Net Profit From Cont. Ops NZ$26.2 MLN, Down 29.8%

March 19 (Reuters) - Synlait Milk Ltd:

* REITERATES REMAINS COMFORTABLE WITH ITS FULL YEAR 2020 EARNINGS GUIDANCE RANGE

* HY TOTAL COMPANY REVENUE INCREASED BY 19% TO NZ$559 MILLION

* HY NET PROFIT FROM CONTINUING OPERATIONS NZ$26.2 MILLION, DOWN 29.8%

* EBITDA FORECAST TO INCREASE FOR 12 MONTHS ENDED 31 JULY 2020

* CONFIRM NO MATERIAL SHORT-TERM IMPACT ON FINANCIAL PERFORMANCE DUE TO COVID-19, IT REPRESENTS SOME DOWNSIDE RISK GOING FORWARD

* MORE THAN NZ$10 MILLION OF PLANNED OPERATING COSTS DEFERRED OR REPHASED IN FY20

* DAIRYWORKS EXPECTED TO PROVIDE ABOUT NZ$15 TO NZ$20 MILLION EBITDA OVER NEXT 2 YEARS Source text for Eikon: Further company coverage:

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