Tuesday, 06 February 2024 11:25

Share tumble

Written by Milking It

font size decrease font size increase font size
Print
Email

OPINION: If you are an investor in listed Canterbury milk processor, Synlait then you may have a reason to be worried.

Synlait’s share price continues to fall and last week was trading around 81c. Compare this to two years ago when it was trading at $3.45/share.

One year ago, it was hovering around $3.56/share.

A run of poor financial results and a dispute with cornerstone shareholder and key customer a2 Milk Company have seen its market capitalisation drop 75% to around $177m.

Farmers who supply milk to Synlait will be watching nervously.

More like this

Plant-based bubble bursts

OPINION: Talking about plant-based food: “Chicken-free chicken” start-up Sunfed has had its valuation slashed to zero by major investor Blackbird Ventures, and its products are no longer available in supermarkets.

Poor investments backfire

OPINION: Synlait's financial woes won’t be going away anytime soon.

Exploited by one of their own

OPINION: Milking It believes a recent Employment Relations Authority ruling on the exploitation of three migrant workers from Indonesia highlights a trend in New Zealand – migrant workers being mistreated and oppressed by one of their own.

'Not our fault!'

OPINION: Milking It wasn’t too surprised to hear Kiwis’ trust in media has sunk to a new low.

Another record result for Westland

Not all milk processors in New Zealand are struggling; just look at Westland Milk Products on the West Coast.

Featured

HortNZ levy vote referendum looms

The country’s 4200 commercial fruit and vegetable growers will vote from May 14 on a new HortNZ levy.

Meat co-op seeks capital from farmer shareholders

Meat processor Alliance Group is asking farmer shareholders to inject more capital in order to remain a 100% co-operative.

Vaccinate against new lepto strain

A vet is calling for all animals to be vaccinated against a new strain of leptospirosis (lepto) discovered on New Zealand dairy farms in recent years.

Global demand remains sluggish

Dairy

TV series to combat food waste

Rural banker Rabobank is partnering with Food Rescue Kitchen on a new TV series which airs this weekend that aims to shine a light on the real and growing issues of food waste, food poverty and social isolation in New Zealand.

Chorus backs need for rural high speed internet

Telco infrastructure provider Chorus says that it believes all Kiwis – particularly those in the rural areas – need access to high-speed, reliable broadband.

National

Ahuwhenua Trophy finalists showcase farms

In a few weeks the winner of the prestigious Ahuwhenua Trophy for the top Māori dairy farm will be revealed…

Cheesemakers may need new cheese names under FTA

The owner of an award-winning cheese producer says the Government’s free trade agreement (FTA) with the European Union (EU) has…

Protect productivity from red tape

Productive industries shouldn’t be strangled in red tape, they need to be able to operate and grow, using technology to…

Profit focus falls off the radar

The dairy industry has lost its mojo in the last six or seven years, according to a leading dairy farmer,…

Frontline biosecurity 'untouchable'

Biosecurity Minister Andrew Hoggard has reiterated that 'frontline' biosecurity services within Ministry for Primary Industries (MPI) will not be cut…