Synlait Milk has reported a net loss of $182.1 million and stumped up with a one-off payment to try to keep supplying South Island farmers. 

The embattled dairy processor reported its full-year results to July 31 on Monday with revenue up 2 percent to $1.64 billion. 

It took a total non-cash impairment of $114.6 million during the year against its long-term assets. 

CEO Grant Watson says the 2024 financial year was a difficult one - but things look to be in a better position for next year.

LISTEN ABOVE

The podcasts in the SME Stream contain general information only, not financial or professional advice. Any opinions expressed in the podcasts are not necessarily shared by BNZ, or its related entities. BNZ is not liable for any losses resulting from the content of the podcasts.

Synlait Milk has reported a net loss of $182.1 million and stumped up with a one-off payment to try to keep supplying South Island farmers. 
The embattled dairy processor reported its full-year results to July 31 on Monday with revenue up 2 percent to $1.64 billion. 
It took a total non-cash impairment of $114.6 million during the year against its long-term assets. 
CEO Grant Watson says the 2024 financial year was a difficult one - but things look to be in a better position for next year.
LISTEN ABOVE
The podcasts in the SME Stream contain general information only, not financial or professional advice. Any opinions expressed in the podcasts are not necessarily shared by BNZ, or its related entities. BNZ is not liable for any losses resulting from the content of the podcasts.

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Grant Watson: Synlait CEO on the company's multi-million dollar net loss

https://api.omny.fm/orgs/7784f840-c291-422a-924b-ad9000bbad71/clips/f77fbb0b-f275-487e-b801-b1fb014528d3/transcript

As business owners, you know how hard it is keeping up with your business, let alone the news. Join Wilhelmina O'Keeffe each week as she gives you a rundown of the biggest stories that could impact your business, so you can make informed decisions with expert advice. 

This week, The OCR holds steady so will retail interest rates do the same? Another roadblock for the India free trade deal, and there’s positive signs for the retail sector, so can the industry finally breathe again? Plus … the new AI that’s less chatbot and more co-worker. 

As business owners, you know how hard it is keeping up with your business, let alone the news. Join Wilhelmina O'Keeffe each week as she gives you a rundown of the biggest stories that could impact your business, so you can make informed decisions with expert advice.&nbsp;
This week, The OCR holds steady so will retail interest rates do the same? Another roadblock for the India free trade deal, and there&rsquo;s positive signs for the retail sector, so can the industry finally breathe again?&nbsp;Plus &hellip; the new AI that&rsquo;s less chatbot and more co-worker.&nbsp;

SME Stream Weekly Wrap - 19 February

The Government will today reveal its back down on controversial Auckland housing intensification plans amid fierce public criticism.  

New planning rules would currently allow another 2 million homes in Auckland. 

But last month the Government announced it'll water down the rules with an announcement expected this afternoon.  

Prime Minister Christopher Luxon told Kerre Woodham a balance needs to be struck.  

He says Auckland has to grow with affordable housing, but quite rightly some Aucklanders have said they don't want big buildings next to their homes. 

He’s also allaying concerns about a proposal for a $9 toll on Auckland's Harbour Bridge. 

The Infrastructure Commission recommended tolling the existing bridge, and second new crossing, to reduce construction costs on the Crown.  

But Luxon told Woodham it's only an idea.  

He says the Government hasn't decided whether it'll be a new bridge or a tunnel yet, and decisions on how to fund it will come later. 

He says tolls are the only way to pull forward the development of new roads, faster. 

LISTEN ABOVE 

The Government will today reveal its back down on controversial Auckland housing intensification plans amid fierce public criticism. &nbsp;
New planning rules would currently allow another 2 million homes in Auckland.&nbsp;
But last month the Government announced it'll water down the rules with an announcement expected this afternoon. &nbsp;
Prime Minister Christopher Luxon told Kerre Woodham a balance needs to be struck. &nbsp;
He says Auckland has to grow with affordable housing, but quite rightly some Aucklanders have said they don't want big buildings next to their homes.&nbsp;
He&rsquo;s also allaying concerns about a proposal for a $9 toll on Auckland's Harbour Bridge.&nbsp;
The Infrastructure Commission recommended tolling the existing bridge, and second new crossing, to reduce construction costs on the Crown. &nbsp;
But Luxon told Woodham it's only an idea. &nbsp;
He says the Government hasn't decided whether it'll be a new bridge or a tunnel yet, and decisions on how to fund it will come later.&nbsp;
He says tolls are the only way to pull forward the development of new roads, faster.&nbsp;
LISTEN ABOVE&nbsp;

Christopher Luxon: Prime Minister takes talkback, discusses infrastructure, housing intensification, polls

Auckland Airport says it's gaining momentum.

It's reported a four percent increase in revenue in its half-yearly results. 

The airport says that lift in revenue is being driven by a two percent increase in passenger numbers to 9.6 million.

Chief Executive Carrie Hurihanganui says there's still more work to do - since numbers still haven't caught up to pre-pandemic levels. 

LISTEN ABOVE

Auckland Airport says it's gaining momentum.
It's reported a four percent increase in revenue in its half-yearly results.&nbsp;
The airport says that lift in revenue is being driven by a two percent increase in passenger numbers to 9.6 million.
Chief Executive Carrie Hurihanganui says there's still more work to do - since numbers still haven't caught up to pre-pandemic levels.&nbsp;
LISTEN ABOVE

Grant Watson: Synlait CEO on the company's multi-million dollar net loss

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