New Zealand's Synlait Milk swings to first-half loss

Synlait Milk

22/03/2026 19:50

March 23 (Reuters) - New Zealand's Synlait Milk SML.NZ swung to a first-half loss on Monday as lower returns in its ingredients business unit, and adjustment in its manufacturing plan, hit earnings.

The dairy producer posted a reported net loss after tax of NZ$80.6 million ($46.86 million) for the half-year ended January 31, compared with a profit of NZ$4.8 million a year earlier.

($1 = 1.7200 New Zealand dollars)

 (Reporting by Rajasik Mukherjee; Editing by Chris Reese)

 ((Rajasik.Mukherjee@thomsonreuters.com;))