Primary Sector
Explore the latest primary industry news by BusinessDesk.
Infrastructure
Synlait profit rises 10%; Pokeno legal exposure 'not substantial'
By Rebecca Howard Sept. 12 (BusinessDesk) - Synlait Milk lifted annual net profit 10 percent and said it remains sanguine about legal issues facing its soon-to-be commissioned Pokeno plant. Profit rose to $82.2 million in the year ended July 31 from $74.6 million a year ear...
Finance
Dairy Farms NZ encouraged to pursue IPO
By Paul McBeth Sept. 11 (BusinessDesk) - Dairy Farms NZ is being encouraged to pursue an initial public offering as controls on land sales depress farm prices but also restrict the firm's ability to raise funds from foreign investors. The company, which counts US billionair...
S&P says Fonterra's restructuring is a 'painful' step toward recovery
By Rebecca Howard Sept. 11 (BusinessDesk) - Fonterra Cooperative Group has taken a painful step toward recovery but any wavering would put immediate pressure on its 'A-' rating, says S&P Global Ratings. The cooperative has a “reasonable prospect” of building a rating buffer...
Markets
Morgans picks 18% lift in Synlait profit on growing formula sales
By Rebecca Howard Sept. 9 (BusinessDesk) - Morgans expects Synlait Milk to report a 17.5 percent lift in full-year profit this week, underpinned by strong growth in infant formula volumes, a bigger contribution from lactoferrin, and slightly larger ingredients volumes. The...
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Riley Kennedy
Journalist
Riley won the Dairy NZ Industry Award at the NZ Guild of Agricultural Journalists and Communicators Awards in 2024. He was the New Zealand Shareholders Association emerging journalist of the year in 2022. His journalism experience includes more than a year as a business specialist at the Otago Daily Times. He has a diploma in journalism from Wintec.
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