Synlait reports $75.4 million after-tax loss for the year
Monday 28 September 2026 · 3 outlets · 3 reports · updated 
Synlait Milk has reported a net loss after tax of $75.4 million for the year ending July 31. This figure is an increase from the previous year's loss of approximately $40 million. Despite the financial results, the company expressed optimism regarding its future resilience.
Key facts
5 facts
- Synlait reported a $75.4 million after-tax loss for the year ending July 31
- The Pōkeno factory was sold to Abbott for $307 million
- Net debt decreased by 14 per cent to $215 million
- The average milk payout to farmers was $10.07 per kgMS including incentives
- The company has just under 200 farmer-suppliers
The full story
1 min read · 3 outlets
Synlait has reported an after-tax loss of $75.4 million for the 12 months ending 31 July. This figure sits at the top end of the $70 million to $75 million range previously forecast by the company. The loss is an increase from the $40 million loss recorded in 2025, but is an improvement on the $182 million loss from the prior year.
The company's financial performance was impacted by manufacturing challenges at its Dunsandel factory in July 2025. These issues cost the business approximately $80 million and forced a pivot to producing whole milk powder during a period of unstable global prices. Chairperson George Adams stated that achieving operational stability in the second half of the year drove an improvement in performance.
To reduce debt, Synlait sold its North Island assets, including the Pōkeno factory, to the US company Abbott for $307 million. This move returns the company's focus to its South Island roots in Dunsandel. Group revenue reached $1.94 billion, helping to reduce net debt by 14 per cent to $215 million.
Synlait provided farmers with a near-record milk price, with an average payout of $10.07 per kilogram of milk solids after incentives. The company is currently in a transitional period until the end of the year and is working through a 'Stabilise, Simplify and Scale' turnaround plan.
Where reports differ
- One report notes the company's net profit moved from an $80.7 million loss in the first half to a $5.2 million profit in the second, while another describes the second half as an improvement driven by operational stability without specifying the exact profit figure
Compiled from reports by The Post, NZ Herald and RNZ.