Investors catch a glimmer of hope after Synlait's full-year net loss

Synlait chief executive Grant Watson said the company was looking at a range of options for how it might deal with a retail bond. (Image: Synlait)

Rebecca Howard

Mon, 25 Sep 2023

Synlait Milk reported a full-year net loss, but investors look to have a glimmer of hope.The stock last traded up 0.8% at $1.29 on Monday afternoon, despite reporting a net loss of $4.3 million for the year to July 31 versus a net profit of $38.5m a year earlier.“There is no question this is a poor financial result,” chief executive Grant Watson told BusinessDesk.However, “we are clear on why and we’ve got a really clear and focused strategy”, he said.Earnings before interest, taxes, depreciation and amortisation (...

Subscribe to BusinessDesk

Stay informed on business, government and financial developments across New Zealand.

Deeply researched, twice-edited and fact-checked news
Annual subscribers also receive a complimentary subscription to The Wall Street Journal
Personalised email news alerts, plus gift up to 5 stories a month to non-subscribers

You can cancel anytime with two clicks, an email or a phone call.
Find out more.

We are serious about journalism.

Already a Subscriber ? Sign in here.

Name {{ registerForm.errors.get('name') }}

Email address {{ registerForm.errors.get('email') }}

Phone Number {{ registerForm.errors.get('phone') }}

Job Title {{ registerForm.errors.get('title') }}

Password Minimum password length of 8 characters.
Require at least one upper and lowercase, numeric, and special character. {{ registerForm.errors.get('password') }}

Repeat password {{ registerForm.errors.get('password_confirmation') }}

We had trouble validating your card. It's possible your card provider is preventing us from charging the card. Please contact your card provider or customer support.

Credit Card

Cardholder's name

{{ __(plans[index].name) | capitalize }} {{ plans[index].attributes.old_price | currency }} {{ plans[index].price | currency }}

All subscriptions auto renew but are easy to cancel.

I Accept The Terms Of Service

{{ registerForm.errors.get('terms') }}

Tax: {{ taxAmount(selectedPlan) | currency }}

Total Price Including Tax: {{ priceWithTax(selectedPlan) | currency }} {{ selectedPlan.type == 'user' && spark.chargesUsersPerSeat ? '/ '+ spark.seatName : '' }} {{ selectedPlan.type == 'user' && spark.chargesUsersPerTeam ? '/ '+ __('teams.team') : '' }} / {{ __(selectedPlan.interval) | capitalize }}

Markets Market Close

NZ stocks end firm after Sky, Vulcan, annual meetings

There were 84 rises and 54 falls on the main board.

Jamie Gray 31 Oct 2025

Law & Regulation

Court rejects Uber Group bid to block Uber, One NZ partnership

A Northland telco is weighing its next move after losing a fight for the Uber name.

Garth Bray 31 Oct 2025

Court rejects Uber Group bid to block Uber, One NZ partnership

Markets

SkyCity faces Adelaide reckoning by year-end

Casino operator releases details about regulatory situation in Adelaide.

Dileepa Fonseka 31 Oct 2025

SkyCity faces Adelaide reckoning by year-end

Sponsored

Move-in ready offices: How business are rethinking workspace

Businesses want agility – and office space is evolving fast

Sponsored by Precinct Properties

Sponsored

NZ risks losing edge as Australia takes lead in cleaner jet fuel

Experts warn SAF delay could cost jobs and growth.

Z Energy

More Primary Sector

Primary Sector

Rising volumes push Port of Tauranga profit outlook higher

Port of Tauranga expects its full-year net profit after tax to fall somewhere between $137 million and $147m.The NZX-listed port company’s container volumes increased 9% to 319,649 TEUs in the first three months to Sept 30.Total trade increased 5.9% in volume compared to the same...

Staff reporters 31 Oct 2025

Primary Sector

AgriZeroNZ invests $1.7m in Australian cattle IVF platform

AgriZeroNZ has invested A$1.5 million (NZ$1.7m) into Queensland biotech company Nbyro, which aims for faster breeding of more emissions-efficient livestock.The public-private joint venture was the co-leader in a wider funding round for Nbyro. The stake is AgriZeroNZ’s 10th equity...

Staff reporters 31 Oct 2025