Synlait outlines “recovery roadmap” after H1 loss

Synlait Milk today (23 March) sketched out its plans for “recovery” after posting a half-year loss of more than NZ$80m (US$47.1m). A month after issuing a profit warning, the New Zealand dairy and infant-formula business confirmed it had entered the red in the six months to the end of January. The NZ$80.6m net loss compared to a net profit after tax of NZ$4.8m a year earlier. Synlait also booked a loss at the EBITDA level of NZ$35m, a swing from a positive EBITDA of NZ$63m in the opening six months of ...