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30 Sep 2024 15:20
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      Home > News > Business

    Optimism from struggling Canterbury milk processor - Synlait - despite an 182.1 million dollar loss

    Optimism from struggling Canterbury milk processor - Synlait - despite an 182.1 million dollar loss


    It's released figures today - showing profit is down 61-percent, and net debt up 33-percent - to 551.6 million dollars.

    Shareholders recently approved a multi-million dollar capital injection to help pay off debt.

    CEO Grant Watson says they have good momentum heading into 2025, off the back of resetting the balance sheet and putting disputes with A2 behind them.

    © 2024 Newstalk ZB, NZCity

     Other Business News
     30 Sep: Fonterra is being sued - accused of greenwashing
     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: More details this morning, about the financial situation facing Synlait
     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
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