The A2 Milk Company has seen its sales spike in the six months to December on the back of strong demand for its infant formula in Australia and overseas.
The company's total revenue rose 86 per cent to of $NZ139.1 million, and sales of a2 Platinum infant formula more than tripled, bringing in total revenue of $NZ73.9 million.
The company's net profit after tax also jumped significantly to $10.1 million, compared to $0.1 million in the previous corresponding half.
As a result, the company has revised its full year revenue forecast upwards to fall in the range of $335 million to $350 million. Its new group operating EBITDA forecast is in the range of $45 million to $49 million.
Managing director Geoffrey Babidge said: “The company’s strategic agenda has been focused on growing and broadening the ANZ milk business and developing growth opportunities in select international markets.
“Following a period of development, a2 Platinum infant formula has become a significant contributor to growth and earnings in ANZ and China, which we see continuing. In addition, we see positive prospects for growth of a2 Milk whole milk powder, which was first launched late last financial year.
“We are pleased with the growing level of distribution for a2 Milk in the state of California and the repositioning of our branding the UK during the period.”
