A2 Milk Co. today (26 April) gave an improved forecast for its infant formula sales, amid growth in Australia and through the e-commerce channel into China.
In February, when the New Zealand-based business announced its half-year results, it cautioned second-half sales of its infant formula would be below the level of the first six months of the year, although still higher than in the back half of 2016.
Go deeper with GlobalData
Today, A2 Milk said second-half formula sales would “exceed” those generated in the first half of the year.
“Demand has been particularly strong in Australia, but also through the cross-border e-commerce channel into China,” A2 Milk said.
In its trading update, A2 Milk said its group revenues reached NZD388.5m (US$268.1m) in the first nine months of its financial year, a period that ran until 31 March.
A2 Milk is forecasting its annual group revenues will hit around NZD525m, up from NZD352.8m the previous year.
US Tariffs are shifting - will you react or anticipate?
Don’t let policy changes catch you off guard. Stay proactive with real-time data and expert analysis.
By GlobalDataThe filing gave no commentary on A2 Milk’s profits.
Shares in A2 Milk, which have climbed by more than 61% in 2017, closed up 7.81% at NZD3.45.
In February, A2 Milk reported a jump in first-half profits, with “outstanding results” from the company’s domestic business, as well as its operations in Australia and China.
