Synlait Milk reports solid lift in net profit

The company is looking to focus on core business opportunities. (Image: Synlait Milk)

Tue, 27 Sep 2022

Synlait Milk reported a jump in full-year net profit and said it's on track to return to “robust” profitability. Net profit was $38.5 million in the 12 months to July 31, versus a loss of $28.5m in the same period a year earlier. Adjusted net profit, which strips out one-off gains, was $34m, up $62.4m on the year. Revenue lifted 21% to $1.66 billion. Earnings before interest, taxes, depreciation and amortisation (Ebitda) were $129.1m, $91.8m higher than in the prior period. It also reduced net debt to $341.9...

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