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BUZZ-New Zealand's Synlait Milk hits six-month high as annual loss narrows

Reuters
Yesterday
BUZZ-<a href="https://laohu8.com/S/NZERF">New Zealand</a>'s <a href="https://laohu8.com/S/SMLKF">Synlait Milk</a> hits six-month high as annual loss narrows

Sept 29 (Reuters) - ** Shares of New Zealand-based Synlait Milk SML.NZ rise as much as 20.7% to NZ$0.845, the highest level since March 25

** Stock on track to record its biggest intraday pct gain since February 17

** Dairy producer posts total annual net loss after tax of NZ$39.8 million ($22.98 million), compared to a loss of NZ$182.1 million a year ago

** Company also announces divestment of North Island assets to global healthcare firm Abbott ABT.N for NZ$307 million

** However, company announces it will not provide further financial guidance for FY26

** 547,627 shares change hands, 4.6x the 30-day average volume

** Stock has risen 90.8% this year, including session gains

($1 = 1.7322 New Zealand dollars)

(Reporting by Roshan Thomas in Bengaluru)

((Roshan.Thomas@thomsonreuters.com;))

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