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...

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