Synlait forecasts $17m-$21m first half loss

Synlait's annus horribilis continues.

Mon, 12 Feb 2024

Debt-laden Synlait Milk said it expects to report a first-half loss of $17-to-$21 million in March, driven by increased financing and operating costs.Reduced ingredient and advanced nutrition margins would also contribute to the shortfall, it said.Synlait’s first half 2023 profit was $4.8m.The annual result for 2024 was also likely to be flat or down on 2023′s, the company said.The milk processor, which counts infant formula marketer a2 Milk as its biggest customer, has a $130m debt repayment due on March 28.The half-year loss range...

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