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30 Sep 2024 13:24
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      Home > News > Business

    More details this morning, about the financial situation facing Synlait

    More details this morning, about the financial situation facing Synlait


    The struggling Canterbury-based milk processing company is announcing a net loss after tax of 182.1 million dollars.

    Profit is down 61-percent.

    Net debt is up 33-percent, to 551.6 million dollars.

    Shareholders recently approved a 218-million dollar capital injection by shareholders, A2 Milk and Bright Dairy, to help pay off that debt.

    © 2024 Newstalk ZB, NZCity

     Other Business News
     30 Sep: Alliance Group is making moves to strengthen its balance sheet, after announcing the proposed closure of a historic freezing works on Friday
     30 Sep: Fonterra's released its latest revised strategy, that will see it focus on selling ingredients to businesses, rather than finished food products to consumers
     30 Sep: Salaries are only just outpacing the rate of inflation
     29 Sep: Education could be key in addressing hesitancies for retired households using home equity to make ends meet
     29 Sep: New Zealand's hospitality is continuing to limp forward, with a slight year-on-year revenue growth
     29 Sep: New Zealand exporters are making the most of our green reputation - to attract more global interest
     28 Sep: The Government's being urged to stop the push towards forestry, in the wake of the proposed closure of the Timaru meatworks
     Top Stories

    RUGBY RUGBY
    Former Ireland centre Johnny Sexton has pointed the finger at All Blacks opposite Rieko Ioane for instigating a heated exchange immediately after New Zealand's 28-24 quarterfinal win at last year's Rugby World Cup More...

    BUSINESS BUSINESS
    Alliance Group is making moves to strengthen its balance sheet, after announcing the proposed closure of a historic freezing works on Friday More...


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