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

Greenpeace in trouble?

OPINION: Is it the beginning of the end for Greenpeace?

Dairy power

OPINION: The good times felt across the dairy sector weren't lost at last week's Beef + Lamb NZ annual meeting.

Another win

OPINION: Feds Southland 'pres' Jason Herrick and colleagues who continue the good fight against bureaucratic madness on behalf of farmers, have had another win - for now, at least - getting a court decision granting a 'stay' on rules in the Southland Water and Land Plan until changes can be made to section 70 of the RMA by central goverment, somtheing they clearly signaled after the election.

Bagrie bags banks

OPINION: Noted economist and self-promoter Cameron Bagrie took one look at KPMG's recently released Financial Institutions Performance Survey on banks and zeroes in one key number that suggests banks are so risk averse in this country that they are probably stifling growth and innovation.

Synlait’s financial turnaround halts supplier exodus

A marked turnaround in the financial performance of Canterbury milk company Synlait has halted a threatening exodus of farmer suppliers.

Featured

US remains important market - Fonterra

Fonterra says the US continues to be an important market for New Zealand dairy and the co-op.

NZ interests best served when trade flows freely - McClay

Trade and Agriculture Minister Todd McClay says New Zealand's trade interests are best served in a world where trade flows freely.

Red meat sector disappointed by US tariffs

New Zealand's red meat sector says it is disappointed by the United States' decision to impose tariffs on New Zealand exports.

Editorial: New RMA good for farmers

OPINION: Farmers nationwide will be rubbing their hands with glee at the latest news from the Government about the RMA reforms.

Holstein Friesian NZ partners with leading livestock company

Holstein Friesian NZ and Link Livestock have agreed on a strategic partnership to provide HFNZ members with comprehensive services from one of New Zealand's most respected dairy men.