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30 Sep 2024 11:36
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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
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    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...


     Today's News

    		 Cricket:
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     Environment:
    Kea breeding season looks to be off to a positive start in the upper South Island 11:07

     Business:
    Alliance Group is making moves to strengthen its balance sheet, after announcing the proposed closure of a historic freezing works on Friday 10:47

     Motoring:
    AI is lending a hand in fixing Christchurch roads 10:27

     Business:
    Fonterra's released its latest revised strategy, that will see it focus on selling ingredients to businesses, rather than finished food products to consumers 10:07

     International:
    Who is Hamas leader Yahya Sinwar and how did he rise to power? 9:07

     International:
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     Health & Safety:
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     Netball:
    England have clinched the Taini Jamison Trophy netball series opener, with a thrilling 59-58 win over the Silver Ferns in Auckland 8:07

     International:
    Further escalation with Hezbollah may soon be what cracks Israel's mighty Iron Dome 7:57

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