Tim Carter: Synlait acting CEO on the company's share price climbing by 16%

The news is continuing to get better for Canterbury milk company Synlait. 

Its share price climbed 16% yesterday off the back of news it's expecting to return to profitability in the first half of the financial year. 

That follows a bail-out by major shareholders, Bright Dairy and a2 Milk. 

Acting Chief Executive Tim Carter told Mike Hosking the bounce-back is good, but they still have a lot of work to do. 

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Episode Transcript

Speaker 1 (00:00):
Have I got good news for you from the land.
Sin Lay tells us the bounce back is on. You
remember last year there was the debt, the boat, the
battle for survival. Now profitability is forecast for the first
half result in March. It's share prices up thirty five
percent since Friday. The sin Lay's acting CEO, Tim Carter's
with us. Tim, very good morning to you.

Speaker 2 (00:17):
Yeah, welcome. I could have to be here, Mike, and.

Speaker 1 (00:19):
It is for you clearly a happy new year.

Speaker 2 (00:22):
Yeah, yeah, it is good news. It was good news
and in particular really good news to be able to
go and talk to our farmers that you know, I
turn around is on track and you know half your
guidance is positive. But I think the big message also, micaus,
they still work to We're not jumping from the rooftop
an I think a lot.

Speaker 1 (00:40):
Something specific or you're riding dairy in the auction prices.

Speaker 2 (00:43):
Generally, No, we look very much. We're very targeted on
what we're doing. We've used data. I guess they're really
tell us where the opportunities lie in the business and
you can see that through through the release. You know,
new business development is starting to show the return that
the work that's got on it so an advanced nutrition.
We've brought on new multinational customers, certainly in the infant

(01:04):
base powder sector, Mike, which has been really pleasing. And
that's for demand up into Southeast Asia and China in particular.
You're right in terms of our strong performance in our
ingredients business. You know, we've been really up to focus
on that optimized product mix. The demand that's been out
there globally, coupled with that exchange.

Speaker 1 (01:23):
Rate what you need to sorry carry out and.

Speaker 2 (01:26):
So you need to manage that daily. That's been very specific.
And then the good old cost control Mike. You know,
we've really been ruthless going through the business and making
sure we're right size in the business in the right areas.
You know, consulting spin has been reduced, and then optimizing
ceiling in our asset manufacturing footprint.

Speaker 1 (01:43):
Good. What role does China play and are you bullisholmen?

Speaker 2 (01:48):
Look, China's China. They are a significant market. They always
play an important role. I think we're still uncertainly in China,
you know, are they in are they are just seeing
birth rates come back? But you know, interesting enough, birth
rates weren't quite in the lows that was predicted, so
I guess that's a that's a promising point. You'll see
GDT for the last quarter, sorry GDTs. GDP for the

(02:11):
last quarter was better than expected, so it's there. I
think everyone's sitting and watching and hopefully that comes back
in and they'll continue to drive some growth.

Speaker 1 (02:20):
Fantastic. I'm stoked for you, Tim, Well done, Tim Carter,
who's the Sinlay acting CEO.

Speaker 2 (02:25):
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