NZ's Synlait Milk swings to profit in first half

Synlait Milk

23/03/2025 19:46

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March 24 (Reuters) - New Zealand's Synlait Milk SML.NZ said it swung to profitability in the first half of its 2025 fiscal year on Monday, backed by higher commodity prices and surging demand for nutrition products.

The dairy producer reported net profit after tax of NZ$4.8 million ($2.75 million) for the six months ended January 31, after posting a loss of NZ$96.2 million in the previous corresponding period.

($1 = 1.7446 New Zealand dollars)

 (Reporting by Kumar Tanishk in Bengaluru; Editing by Nia Williams)

 ((Tanishk.Kumar@thomsonreuters.com; X: @thatstanishk;))