(1-minute read (45-minute watch (feel free to increase play speed 2X)))
Synlait Milk had a tough year, with a loss of 20%, against a market gain of about 15%. However, even the best stocks will sometimes underperform the market over a 12-month period.
The half year results highlighted a 19% increase in revenue to $559 million. Also NPAT (net profit after tax) dropped 30%, reflecting “higher depreciation and interest costs”.
SML CEO Leon Clement and Chair Graeme Milne wrote an opening address for their shareholder newsletter which included “While we can confirm there has been no material short-term impact on our financial performance in connection with Covid-19, it represents some downside risk going forward”.
IMPORTANT: This article is of general nature only and readers should obtain advice specific to their circumstances from professional advisers.
P.S. I research and interview economists, NZ investors and profitable companies to find tools & tactics that you can use to achieve financial freedom.
➔ Join my private newsletter to be the first one to learn insider tips! Here are examples of what you’ll get. It’s FREE. You can unsubscribe at any time. I treat your email as my top secret.