Synlait Milk Sees Positive Turn as Farmer Supplier Returns

Synlait Milk Limited (NZX: SML) marked a turning point with its first farmer supplier rescinding a two-year cessation notice, a move Synlait’s chair hopes will inspire others. During its annual meeting held at the Dunsandel site, the company reflected on a challenging year that included a $218 million capital raise and a shareholder loan from Bright Dairy to stabilize its balance sheet. Despite losing its CEO recently, Synlait is cautiously optimistic about rebuilding trust among suppliers and shareholders. The company's focus remains on restoring financial health and fostering stronger relationships with its farmer base as it moves forward.

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