Synlait Milk reports $182m loss, stumps up with one-off payment for farmers

Synlait Milk reports $182m loss, stumps up with one-off payment for farmers
(Image: NZME)
Riley Kennedy
Synlait Milk has reported a net loss of $182.1 million and stumped up with a one-off payment to try to keep its supplying South Island farmers.The embattled dairy processor reported its full-year results to July 31 on Monday with revenue up 2% to $1.64 billion.It took a total non-cash impairment of $114.6m during the year against its long-term assets.The dairy processor’s shareholders approved an almost $218m capital raise two weeks ago at a special meeting held at its Dunsandel site to help restore its balance sheet. When the deal t...

More Primary Sector

Fonterra steps up work on potential consumer business divestment
Primary Sector

Fonterra steps up work on potential consumer business divestment

Last month Fonterra said it was still working towards a 12- to 18-month timeframe. 

Synlait lifts 2024/25 forecast milk price
Primary Sector

Synlait lifts 2024/25 forecast milk price

Its $9 per kilogram of milk solids is in line with Fonterra's midpoint.

Delegat boss Steve Carden quits
Primary Sector

Delegat boss Steve Carden quits

Delegat Group managing director Steve Carden has resigned.Having been with the business for three years, his last day will be on Jan 31, 2025.He joined the New Zealand Exchange-listed (NZX) wine group in 2022, having been chief executive of state-owned farmer Pāmu for eight years...

Riley Kennedy 08 Oct 2024
What new Japanese owners plan for Ashburton Meat Processors
Primary Sector

What new Japanese owners plan for Ashburton Meat Processors

New beef chain up to export standards and meat-processing room coming.

Riley Kennedy 07 Oct 2024