Oceania Dairy posts $19m loss as revenue falls 14%

As well as Oceania Dairy, Yili also owns Westland Milk Products. (Image: BusinessDesk)

Mon, 10 Jun 2024

South Canterbury dairy processor Oceania Dairy has posted a loss of just over $19 million, its 2023 accounts show.The loss of $19.1m in the 12 months to the end of December compares to a loss of $3.9m in the year prior.The company’s revenue, meanwhile, fell 14% to $376.2m, down from $440.7m in 2022.Owned by the Chinese group Yili, which also owns Westland Milk Products, the company’s processing site, roughly 40 minutes south of Timaru, opened in 2014. In 2012, Yili bought the land and resource consents to build t...

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

Trump's trade war hits the NZX

The kiwi dollar fell to a six-month low against the greenback.

Rebecca Howard 11:40am

Property

Precinct launches $310m raise to reduce bank debt

The placement represents a 7.5% discount to Precinct’s Friday close price.

Gregor Thompson 9:50am

Precinct launches $310m raise to reduce bank debt

Markets

Fletcher Building still downbeat about FY26

Quarterly volumes indicate further declines in trading volumes.

Rebecca Howard 9:15am

Fletcher Building still downbeat about FY26

Sponsored

The risks of powering New Zealand’s data boom

Sydney has curbed data centres to save power and water. Can New Zealand plan more wisely?

Dentons

Sponsored

Spedding Rd powers Auckland growth

$56m in new infrastructure unlocks business opportunities.

Oyster Capital Spedding Road

More Primary Sector

Primary Sector

Napier Port on track to beat earnings guidance, Jarden says

It released its fourth-quarter volumes on Friday.

Staff reporters 10:10am

Primary Sector Rare Returns

Rare Returns: the state of NZ’s red meat sector

NZ’s red meat price rebounds, but cracks in the system are hard to ignore.

Riley Kennedy 5:00am

Primary Sector

Government to lower 2050 methane reduction target range

The Government is lowering its 2050 methane reduction target and confirming a review will take place in 2040 to assess whether New Zealand’s reduction efforts align with high-emissions countries.Cabinet will soon approve a new target range of 14–24% below 2017 methane emission le...

Staff reporters 12 Oct 2025

Primary Sector

Wood industry unveils value-added plan to double exports

There aren't enough trees in NZ to double timber export receipts with raw logs.

Greg Hurrell 10 Oct 2025

Oceania Dairy posts $19m loss as revenue falls 14%

More Primary Sector

Your company has a subscription

Team