Synlait Milk reports solid lift in net profit

Synlait Milk reports solid lift in net profit
The company is looking to focus on core business opportunities. (Image: Synlait Milk)
Rebecca Howard
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...

More Primary Sector

Zespri on track for 'moderate increase' in volume next year
Primary Sector

Zespri on track for 'moderate increase' in volume next year

Zespri's producer vote to expand global supply passed this week.

Riley Kennedy 12 Dec 2024
Yashili NZ revenue dropped 42%
Primary Sector

Yashili NZ revenue dropped 42%

The Chinese-owned dairy processor’s accounts were due in May.

Riley Kennedy 12 Dec 2024
Zespri growers vote in favour of expanding global supply
Primary Sector

Zespri growers vote in favour of expanding global supply

Zespri’s growers have voted to support the expansion of the kiwifruit marketer’s global supply.A total of 90.6% of voting growers and 93.3% by fruit weight voted in favour of the resolution, which will allocate up to 420 hectares of SunGold fruit per year over six years in Italy,...

Riley Kennedy 11 Dec 2024