It's challenging time for dairy company Synlait.

It's had a $96.2 million loss for the six months to January compared to a $4.8 million profit in the previous corresponding period.

It's won an extension on a $130-million debt repayment and is reviewing North Island assets including the extensive Pōkeno facilities.

Willy Leferink, Synlait Supplier and former Chair of Federated Farmers, told Mike Hosking that the current model is unsustainable.

He said this is a result of when Synlait's board decided that they bet on a horse that wasn't allowed to race.

LISTEN ABOVE

It's challenging time for dairy company Synlait.
It's had a $96.2 million loss for the six months to January compared to a $4.8 million profit in the previous corresponding period.
It's won an extension on a $130-million debt repayment and is reviewing North Island assets including the extensive Pōkeno facilities.
Willy Leferink, Synlait Supplier and former Chair of Federated Farmers, told Mike Hosking that the current model is unsustainable.
He said this is a result of when Synlait's board decided that they bet on a horse that wasn't allowed to race.
LISTEN ABOVE

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Open your mind to the world with New Zealand’s number one breakfast radio show. Without question, as New Zealand’s number one talk host, Mike Hosking sets the day’s agenda. The sharpest voice and mind in the business, Mike drives strong opinion, delivers the best talent, and always leaves you wanting more. The Mike Hosking Breakfast always cuts through and delivers the best daily on Newstalk ZB.

Open your mind to the world with New Zealand’s number one breakfast radio show.Without question, as New Zealand’s number one talk host, Mike Hosking sets the day’s agenda.The sharpest voice and mind in the business, Mike drives strong opinion,...