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

(Image: NZME)

Mon, 30 Sep 2024

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...

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