Synlait Milk posts $80.6m half-year loss as recovery plan takes shape

NZ Herald

22 Mar, 2026 09:33 PMQuick Read

Subscribe to listenAccess to Herald Premium articles require a Premium subscription. Subscribe now to listen.Subscribe now

‌

SaveShare this articleCopy LinkEmailFacebookTwitter/XLinkedInReddit

Synlait has reported a half-year loss of $80.6 million.

Synlait Milk has reported a net loss after tax of $80.6 million, with a reported earnings before interest depreciation and amortisation loss of $34.7m.

The Canterbury-based dairy processor reported its half-year results on Monday and provided an update on its recovery plan under the leadership of chief executive Richard Wyeth,
which it described as “stabilise, simplify, scale”.

Its revenue increased $32.3m to $949m.

Wyeth said the numbers they were presenting were frustratingly disappointing.

“They are the result of a period where Synlait faced multiple headwinds and had little choice as to how to deal with them. They reflect a severe lack of optionality, not effort, and they do not define the company’s future – although recovery will take time.”