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.

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.

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].interval) | 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

Volatile stocks drive NZ sharemarket down nearly 0.5%

The S&P/NZX 50 Index closed at 12.844.59, declining 60.45 points or 0.47%.

Graham Skellern 6:20pm

Environment

Manufacturing emissions fell 6.2% in September quarter

Manufacturing GDP was down 2.6% in the same quarter.

Staff reporters 4:00pm

Manufacturing emissions fell 6.2% in September quarter

Infrastructure

Lyttelton Port result improves but CEO says it's not enough

The CEO says Lyttelton Port does not generate sufficient returns on its capital base.

Rebecca Howard 3:45pm

Lyttelton Port result improves but CEO says it's not enough

Sponsored

Shining bright: Why gold matters today

The “great wealth store” remains a smart portfolio choice in 2025.

Smart

Sponsored

Why Kiwis are embracing Bitcoin ETFs

The once hard-to-access investment option is becoming mainstream.

Smart

More Primary Sector

Primary Sector

Zhiqiang Li takes helm as acting CEO of Westland Milk Products

Zhiqiang Li has taken the helm as acting chief executive of Westland Milk Products, effective today.The move follows the resignation of former CEO Richard Wyeth.Li will continue as executive director of Yili Group in Australia and New Zealand.Li said Wyeth joined the company four...

Rebecca Howard 31 Jan 2025