Wednesday, 31 May 2023 12:55

Synlait woes

Written by Milking It

font size decrease font size increase font size
Print
Email

OPINION: Listed Canterbury milk processor Synlait is fighting an uphill battle to get its business in order.

A month after announcing a further profit downgrade, Synlait shares continued trending south as some shareholders offloaded their stake, fearing things could get worse for the troubled company.

Synlait informed the stock exchange that it remains highly focused on diversifying its customers, mitigating risk, and reducing its cost base and inventory to strengthen its balance sheet.

But it left the door open for further profit downgrades. Last week Synlait shares were trending at $1.58/share after dipping as low as $1.41 on several days. Before its latest profit downgrade, Synlait shares were trading around $2.14/share.

More like this

Synlait lifts milk price to $10

Canterbury milk processor Synlait Milk has lifted its forecast base milk price for the season by 50c to $10/kgMS.

Milking fish

OPINION: It could be cod on your cornflakes and sardines in your smoothie if food innovators in Indonesia have their way.

Seaweed the hero?

OPINION: A new study, published recently in Proceedings of the National Academy of Sciences, adds to some existing evidence about a simple way to cut emissions dramatically - seaweed.

Misinformation

OPINION: Still on Bovaer, a wave of misinformation is circulating online wrongly linking Microsoft co-founder Bill Gates to the feed additive.

Bovaer BS

OPINION: One of the world’s largest dairy co-operatives has come under fire for embracing a new methane-reducing additive fed to cows. The claims, made on social media, says the use of a feed additive by Arla Foods farmers could ‘contaminate’ milk and allegedly cause cancer.

Featured

MPI investigation finds 'concerning' instances

The first phase of a Ministry for Primary Industries (MPI) investigation into allegations of mistreatment of sheep connected to shearing practices has been completed.

Fruit fly controls to remain in place

According to Biosecurity New Zealand, legal controls on the movement of fruit and vegetables in the South Auckland suburb of Papatoetoe will remain in place until mid-February.

NZ genetic engine version 6 launched

The rollout of the New Zealand Genetic Evaluation Version 6 is said to mark a step-change in the depth and breadth of genetic information available to both stud and commercial sheep breeders.

Growing farmer interest in self-shedding sheep

With low wool prices, farmer interest in the self-shedding Wiltshire sheep continues to grow.

Editorial: Dairy visa woes set to ease

OPINION: Dairy farmers will be breathing easier thanks to the Government last month delivering a Christmas gift in the form of immigration reforms.

Temptation Valley makes a splash

Later this month, Ardgour Valley Orchards apricots will burst onto the world stage and domestic supermarket shelves under the Temptation Valley brand.

National

Editorial: Fewer herds, more milk

OPINION: The latest New Zealand Dairy Statistics report paints a picture of an industry trending towards fewer but larger herds.

Fonterra ‘on track’ to meeting climate change, coal targets

Fonterra says it remains on track to meet its climate targets and be coal free in its North Island manufacturing.

Regional council agenda ‘to just reduce cow numbers'

South Canterbury dairy farmer and recently-retired Fonterra director Leonie Guiney has welcomed an announcement from the Canterbury Regional Council (ECan)…