Synlait has reported a 217% increase in ebitda for the six months ended Jan 31, 2025.
The company's net profit after tax (npat) was up 105%, reaching $4.8 million.
Revenue increased by 16% to $916.8m.
Synlait's gross profit also doubled, amounting to $87m.
The company's net debt decreased by 29% to $391.9m.
Synlait's forecast base milk price for the 2024/2025 season is $10 per kg/ms, with additional premium payments for suppliers without a cease notice, bringing the total average milk payment to $10.48 per kg/ms.
The company said its key priorities for the second half of the financial year are showcasing its on-farm offering, delivering for customers, and improving operational and cost efficiency.
Synlait is targeting a closing net debt balance of $250m to $300m and a net senior debt to ebitda ratio of below 2.5x in fy25.
It said the majority of its South Island farmer suppliers are not under cease, and it expects to recruit new farmer suppliers in the coming seasons.
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