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20 Apr 2024 17:10
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  •   Home > News > Business

    Synlait  Milk is warning of a potential net loss in its half year results

    Synlait Milk is warning of a potential net loss in its half year results


    The Canterbury-based milk processor is projecting a 17 to 21 million-dollar loss for the six months to June -- down from a net profit of 4.8 million from the same period, last year.

    It's putting the loss down to rising interest rates and operational costs, and lower margins

    Ashburton-based Synlait supplier Willy Leferink says it's not a short-term problem, with its share price also dropping.

    He says it's a fundamental problem, and they'll have to re-capitalise- but at 68 cents a year, it's hard work.

    © 2024 Newstalk ZB, NZCity

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