Pāmu issues cease notice to Synlait Milk for its North Island farms

Chief executive Mark Leslie. (Image: Supplied)

Mon, 26 Aug 2024

Pāmu has given Synlait Milk notice it is pulling its milk supply from the cash-strapped processor's North Island plant, saying it has the same concerns as every other farmer.The state-owned farmer, which trades as Landcorp, has reported a net operating profit – its favoured measure – of $20 million for the year ended June 30, compared to $33m the previous year.On an after-tax basis, it made a loss of $26m compared to a $9m loss in 2023, which was boosted by a $20m gain on milk futures.This year, there was a $1m...

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