Synlait's recovery plan on track, expects increased ebitda

Synlait has announced that its business recovery plan is on track and provided financial guidance for the six months ending January 31, 2025.

The company expects ebitda to be in the range of $58 million to $63m for the first half of the 2025 financial year.

This is attributed to growth in advanced nutrition products, strong performance in the ingredients business, and continued cost control.

Synlait also announced a further financial commitment to secure its milk supply in the South Island.

The company will pay new secured milk premiums to South Island farmers and amend milk supply agreements to enhance cashflow security.