• Grant Watson: Synlait CEO on the company's multi-million dollar net loss

  • Sep 30 2024
  • Length: 7 mins
  • Podcast

Grant Watson: Synlait CEO on the company's multi-million dollar net loss

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  • Summary

  • Synlait Milk has reported a net loss of $182.1 million and stumped up with a one-off payment to try to keep supplying South Island farmers.

    The embattled dairy processor reported its full-year results to July 31 on Monday with revenue up 2 percent to $1.64 billion.

    It took a total non-cash impairment of $114.6 million during the year against its long-term assets.

    CEO Grant Watson says the 2024 financial year was a difficult one - but things look to be in a better position for next year.

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