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

Synlait forecasts $17m-$21m first half loss
Synlait's annus horribilis continues.
Staff reporters
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...

More Primary Sector

Medicinal cannabis law changes expected to grow industry
Primary Sector

Medicinal cannabis law changes expected to grow industry

Law changes will make it easier and cheaper for medicinal cannabis to be exported.

Spring Sheep buys 12% stake in Melody Dairies
Primary Sector

Spring Sheep buys 12% stake in Melody Dairies

The sale by Pāmu was done at arm's length.

Riley Kennedy 05 Jul 2024
Reducing farm emissions is about future proofing: Nestlé
Primary Sector

Reducing farm emissions is about future proofing: Nestlé

Dairy makes up 21% of Nestlé's scope 3 or 'on farm' emissions.

Rebecca Howard 04 Jul 2024