Synlait Milk Returns to Profit with Strong Revenue Growth

Synlait Milk Limited (NZX: SML) has returned to profitability, easing concerns among its South Island farmers. The dairy company reported a 16% rise in revenue to $916.8 million for the half-year ending January 31. It posted a net profit after tax of $4.8 million, reversing last year’s $96.2 million loss. Gross profit nearly doubled to $86.9 million, while earnings before interest, tax, depreciation, and amortization (EBITDA) surged 217% to $63.1 million. The company acknowledged that the second half may not be as strong as the first. Despite earlier uncertainties, the majority of its supplier base is now committed to staying with Synlait.

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