Synlait Milk reports a NZ$182.1m loss, initiates debt reduction with a $130m loan and equity fundraising.

Synlait Milk, a New Zealand dairy producer, reported a NZ$182.1 million loss for the year ending July, attributed to efforts to reduce debt. The company has initiated a capital restructure, including a $130 million loan from Bright Dairy and $217.8 million in new equity. Despite challenges, Synlait aims for growth in advanced nutrition and foodservice sectors while offering incentives to retain farmer suppliers. The focus is on improving financial stability and operational performance.

September 29, 2024
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