New Zealand's Synlait Milk to swing to loss in first half as costs bite

Synlait Milk

03/02/2026 19:49

Feb 4 (Reuters) - New Zealand's Synlait Milk SML.NZ said on Wednesday it expects to post a loss for the first half of fiscal 2026 as higher costs, operational impacts and lower relative returns from its commodities portfolio hit earnings.

The dairy producer forecast a reported net loss after tax of between NZ$77 million and NZ$82 million for the half-year ended January 31, compared with a profit NZ$4.8 million ($2.90 million) a year earlier.

($1 = 1.6548 New Zealand dollars)

 (Reporting by Jasmeen Ara Shaikh in Bengaluru; Editing by Tasim Zahid)

 ((Jasmeenaraislam.shaikh@thomsonreuters.com))