Murray Goulburn loses $31.9m so far this financial year

No word yet on whether Murray Goulburn will cut back operations at its Victorian plants.

The dairy processor's yet to make any decisions about assets, as it’s recorded a $31.9 million dollar loss for the half-financial year.

The announcement coming this morning with the company noting it will have to adjust its projected profit of $46 million at the end of the 2016-17 financial year.

Debt for the business is up 72%, in comparison to the previous 12 months.

Falling milk supplies a factor in the figures, declining by 20.6% across the company.