Synlait reports net loss in challenging year

(Image: Synlait)

Mon, 25 Sep 2023

Synlait Milk reported a full year net loss of $4.3 million in what it said was an “extremely challenging” year. The full year net loss for the 12 months to July 31 compared with a net profit of $38.5m in the prior year. The result was in line with guidance because it had indicated it would report somewhere between a net loss of $5m and a net profit of $5m. The year was “highly challenging for Synlait with material reductions in customer demand, CO2 shortages, extreme weather events, the covd-19 pandemi...

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