12 February 2024
12 February 2024
Despite continuing market challenges, Saputo is “seeing clear progress in volume recovery”.
The business expects to post a net loss after tax of between NZ$17m and NZ$21m ($10.4m and $12.9m) for the six-month period.
The snacks and beverages giant is seeing a lag in demand in the North American market for both its food and beverages categories.
It said the lay-offs will impact "less than 5% of its workforce.
Savola formerly held a 34.52% share in its local peer.
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CFO Lee Boyce said the company is “stepping up investment in Q3", which will drive a "sequential improvement in volume”.
There are signs cultivated-meat firms may have found a new target, one that would allow them to get their product to market more quickly.
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