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Synlait Milk Limited (ASX:SM1)

ALERT: Price-sensitive ASX Announcement for SM1
Current share price for SM1 : $0.290 -0.335 (-53.60%)+
Announcement
Release
29 Sep 2025 7:30AM
Price at Release
$0.625
Full Release
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Summary
Synlait Milk Limited has reported its financial results for the fiscal year ending 31 July 2025, which included a net profit after tax of $0.8 million, a significant improvement from the previous year's net loss. The company also announced an agreement to sell its North Island assets to Abbott for approximately NZ$307 million, which will be used to reduce debt. This sale is expected to complete by 1 April 2026, pending regulatory and shareholder approvals. Synlait's FY25 results were impacted by manufacturing challenges, but the company saw improvements across various business units, including a reduction in net debt, increased EBITDA, and growth in its Advanced Nutrition, Foodservice, and Consumer businesses. The company is focused on returning to profitability and simplifying its operations by concentrating on its core facilities in Canterbury.
Key Points
  • Synlait reported a net profit after tax of $0.8 million for FY25.
  • Agreement to sell North Island assets to Abbott for NZ$307 million.
  • Sale is expected to complete by 1 April 2026.
  • Proceeds from the sale will be used to reduce debt.
  • FY25 results impacted by manufacturing challenges.
  • Significant reduction in net debt and increased EBITDA.
  • Growth in Advanced Nutrition, Foodservice, and Consumer businesses.
  • Focus on core operations in Canterbury post-sale.
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.