Synlait Milk Ltd. (AU:SM1) has released an update.
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Synlait Milk Limited has reported significant deleveraging in their FY24 results, with a robust plan to reduce debt levels by the following day. The company has faced challenges such as overcapacity and high debt but is now set to enter FY25 on firmer financial ground, thanks to a strategic refocus. To secure a stable milk supply, essential for their recovery, Synlait is offering a one-off payment of $0.20c per kgMS to South Island suppliers, aiming to rebuild trust and ensure a committed supplier base.
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