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

110,000 visitors!

110,000 visitors!

OPINION: It's official, Fieldays 2025 clocked 110,000 visitors over the four days.

Sticky situation

Sticky situation

OPINION: The Federated Farmers rural advocacy hub at Fieldays has been touted as a great success.

Suitors line up

OPINION: As Fonterra's divestment of its Oceania and global consumer businesses progresses, clear contenders are emerging.

On the go

OPINION: After hopping from one event to another at Fieldays, Associate Agriculture Minister Andrew Hoggard would have been hoping for a rest.

Misguided campaign

OPINION: Last week, Greenpeace lit up Fonterra's Auckland headquarters with 'messages from the common people' - that the sector is polluting the environment.

Popular Reads

Open Country Dairy prepares to launch first commercial butter

The country's second largest milk processor hopes to produce its first commercial butter within two months.

Serratia-linked Mastitis a wake-up call for Waikato farmer

Waikato farmer Craig Clausen had an unpleasant experience after an outbreak of mastitis cases on farm, suspected to be caused…

'Grand Alliance' growing grass-fed beef exports to China

Alliance Group and Grand Farm have signed a strategic co-operation agreement with a focus on delivering more premium New Zealand…

Rural Support Trust dinner raises $300,000

A fundraiser dinner held in conjunction with Fieldays raised over $300,000 for the Rural Support Trust.

Halter raises $165m, company valued at $1.65b

New Zealand tech company Halter has raised $165 million from investors in its latest fundraising round.

Featured

Editorial: Support, don't stifle farmers

OPINION: Ministry for Primary Industries' situation outlook for primary industries report (SOPI) makes impressive reading.

AI-powered fertiliser mapping a game changer for farmers

Sheep and beef farmers Matt and Kristin Churchward say using artificial intelligence (AI) to spread fertiliser on their sprawling 630ha farm is a game changer for their business.

HortNZ Board Election 2025: Growers urged to vote before 10 July deadline

Commercial fruit and vegetable growers are being encouraged to cast their votes in the Horticulture New Zealand (HortNZ) board directors' election.

Biolumic’s UV light breakthrough set to transform ryegrass and reduce methane

A unique discovery by a Palmerston North science company, Biolumic, looks set to revolutionise the value and potential of ryegrass and the secret is the application of ultraviolet (UV) light.

NZ Startup Turns Sheepskin into World-Leading Collagen Supplement

A New Zealand company is redefining the global collagen game by turning New Zealand sheepskin into a world-class health product.

ANZ offers support for farmers and businesses affected by extreme weather

With further extreme weather on the way, ANZ Bank is encouraging farmers and business owners impacted by the recent extreme weather and flooding to seek support if they need it.

National

Fonterra Whareroa sets cheese record, wins top award

Fonterra Whareroa wrapped up a successful season with a record-breaking cheese production volume and several gongs at the co-op's annual…

New pasture guide launched to support farmers in a changing climate

A new publication has been launched that offers a comprehensive and up-to-date resource on commercially available grazing pasture species in…

Hoggard slams outdated farm regulations

"We're trying to get to the promised land but we're still in a bit of a swamp at the moment."

Dairy farmer profits to hit record levels in 2025

The profitability of dairy farmers is likely to increase in the coming year, accordign to the latest report by the…

Fonterra R&D: Innovation needs more than just PhDs

Common sense and good human judgement are still a key requirement for the super highly qualified staff working at one…

Machinery & Products

Wrapped Silage Bales: Convenient feed storage with a mounting plastic problem

Wrapped bales arrived in the 1980s offering a viable alternative to clamp silage, and they remain a solution for those…

McKee Plastics celebrates 50 years of innovation at Fieldays 2025

Celebrating 50 years of being in business in 2025 and specialising in the design and manufacture of an extensive range…

John Deere upgrades round baler line with ISOBUS integration and smarter features

John Deere have recently announced upgrades to its round baler offerings, with all models of this latest generation equipped with…

Farming smarter with technology

The National Fieldays is an annual fixture in the farming calendar: it draws in thousands of farmers, contractors, and industry…

CNH appoints new NZ business manager amid new tax incentives for agricultural machinery

CNH continues to reinforce its position in the New Zealand agricultural machinery market with the appointment of John Gilbert, previously…

» Latest Print Issues Online

dairynewscover

ruralnewscover

winegrowercover

Milking It

110,000 visitors!

OPINION: It's official, Fieldays 2025 clocked 110,000 visitors over the four days.

Sticky situation

OPINION: The Federated Farmers rural advocacy hub at Fieldays has been touted as a great success.

» eNewsletter