Synlait Milk Loses Bear Following Sale of North Island Assets -- Market Talk

Dow Jones10-03

2242 GMT [Dow Jones]--Forsyth Barr lays out two reasons why it's pleased with Synlait Milk's sale of its North Island assets to health care company Abbott for NZ$307 million. The deal removes risk to Synlait's balance sheet. Forsyth Barr estimates Synlait will be net cash in FY 2026. Secondly, the transaction eliminates material losses, given the North Island assets had a NZ$20 million drag on Ebit in FY 2025. "It has served as a sharp lesson in the value of disciplined capital allocation," analyst Matt Montgomerie says. "We are glad this journey is over." Forsyth Barr upgrades Synlait to neutral, from underperform. Synlait is unchanged at NZ$0.835 today. (david.winning@wsj.com)

(END) Dow Jones Newswires

October 02, 2025 18:46 ET (22:46 GMT)

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Secondly, the transaction eliminates material losses, given the North Island assets had a NZ$20 million drag on Ebit in FY 2025. \"It has served as a sharp lesson in the value of disciplined capital allocation,\" analyst Matt Montgomerie says. \"We are glad this journey is over.\" Forsyth Barr upgrades Synlait to neutral, from underperform. Synlait is unchanged at NZ$0.835 today. 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The deal removes risk to Synlait's balance sheet. Forsyth Barr estimates Synlait will be net cash in FY 2026. Secondly, the transaction eliminates material losses, given the North Island assets had a NZ$20 million drag on Ebit in FY 2025. \"It has served as a sharp lesson in the value of disciplined capital allocation,\" analyst Matt Montgomerie says. \"We are glad this journey is over.\" Forsyth Barr upgrades Synlait to neutral, from underperform. Synlait is unchanged at NZ$0.835 today. 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