NZ's Synlait Milk eyes return to profitability in fiscal 2025

Synlait Milk

23/01/2025 20:01

Jan 24 (Reuters) - New Zealand's Synlait Milk  SML.NZ 
said on Friday it expects to return to profitability in fiscal
2025, driven by surging demand for its nutrition products and
successful cost-cutting measures, and forecast higher earnings
in the first half.
    The dairy producer, which clocked a loss in fiscal 2024,
projected earnings before interest, taxes, depreciation, and
amortization (EBITDA) to range from NZ$58 million ($32.92
million) to NZ$63 million for the six months ending Jan. 31. 
    That compares to NZ$19.9 million reported a year earlier. 

($1 = 1.7621 New Zealand dollars)

 (Reporting by Nikita Maria Jino in Bengaluru; Editing by Sriraj
Kalluvila)
 ((Nikita.Jino@thomsonreuters.com;))