Rather a large reduction in forecast earnings of $7.5mil to new forecast of $17.5mil to $22.5mil.
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Rather a large reduction in forecast earnings of $7.5mil to new forecast of $17.5mil to $22.5mil.
They cud go below the $3.00 in the short term.
Well, that's one way to wipe out nine months of gains.
You'd feel like a right muppet if you bought in at around $4.00. Who, me? Now my SML holding is deeper underwater than DIL. :ohmy:
Just as well I booked profits and bailed out of PEB, otherwise I think I'd be hitting the bottle tonight.
[QUOTE=percy;448932]Happily sold my SML at $3.85 as I thought ratios were stretched.
Above posted 11-12-2013.
Looked to have done the wrong thing at the time selling.
Does not look so silly now.!! lol.
I'm pretty close to through with this stock, the only thing keeping me in is the money I will lose if I sell.
From the announcement today:
A reduced advantage from a favourable product mix in the second half of the year, and a consistently high New Zealand foreign exchange rate has resulted in a reduction in forecast net profit after tax of approximately $7.5 million for the financial year.
Really? The consistently high foreign exchange rate has resulted in a reduction in forecast net profit??? Are you really telling me you expected the foreign exchange rate to have dropped by now?? Based on what????
No worry buddy, I am quite sure sp will bounce back follow the completion of china regulatory registration, I have 30k spare cash came from crown refund(GNE) , spend half buy into SML at $3.10 today, will buy more if sp continue sliding, just want a slice of diary sector, and diversity of portfolio.
Canterbury-based company Synlait Milk is confident it will soon be able to start sending infant formula to China again.
http://www.radionz.co.nz/news/nation...ports-to-china
Announcement a couple weeks (profit downgrade) saw price drop 10%
Now back to the price pre announcement - punters did not need to panic after all
Mind you price had come down a bit in the days before the announcement
All honky dory now and steadily onwards and upwards from here
Has anyone any advice, or a progress report perhaps, on the commissioning status of the new dry blending and consumer packaging facility, due to be ready around about now ?
My understanding is that the CNCA (Certification and Accreditation Administration of the People's Republic of China) requires that dry blending and packaging be performed at the manufacturers facility. With SML constructing a new facility, it’s completion and subsequent approval is required before regulatory requirements can be satisfied, and a risk management plan approved by the MPI.
Should be any time now if the construction and commissioning schedule is on time.
https://www.nzx.com/files/attachments/193258.pdf.