Markets

Synlait Milk now expects up to $30m loss

Rebecca Howard
Mon, 24 May 2021

Rebecca Howard
Mon, 24 May 2021
Synlait Milk now expects to report a full-year net loss and said its banking syndicate has granted a waiver of relevant covenants. It is now tipping a net loss of between $20 million to $30 million in the 12 months to July 31.In late March it was forecasting a “broadly breakeven FY21 NPAT result”. Net profit was $75.2m in the year to July 31, 2020.The lower guidance is due to an expectation of ongoing shipping delays, which will result in the sale of some ingredient products occurring post the FY21 balance date, it said.It also...

Use the information you’ve already given Google to create your subscription.

Not convinced yet?

Subscribe to our Daily News Update free newsletter.

Opinion
How much more juice can IRD squeeze?
Paul McBeth | Fri, 25 Jun 2021

Is the tax department still fighting the battles of yesteryear with its Frucor case?

Infrastructure
Oceania rejects Retirement Commissioner's call for law review
Jenny Ruth | Fri, 25 Jun 2021

Oceania Healthcare currently has more than 400 villas, units and care suites under construction.

Law & Regulation
LPF, top barrister to fund Dilworth class action
Chris Holden | Fri, 25 Jun 2021

 The class action is open to all former students who suffered abuse. 

Sponsored
Will your bach or business be underwater in 100 years?

As climate change brings rising sea levels and accelerated coastal erosion, tens of thousands of coastal homes and baches in New Zealand could be left at risk and uninsurable.

Partner Content
Business events are increasingly important for corporates

Working from home is great, but there's real value in face-to-face connections.