A2 FY profit slips on cost of setting up UK joint venture, sales jump 51 percent as Australian shines

Wed, 28 Aug 2013

Aug. 29 (BusinessDesk) - A2 Corp, which markets milk products with a protein variant claimed to have health benefits, reported a 6.5 percent decline in annual profit as the cost of setting up its UK joint venture ate into the bottom line, while sales in Australia continued to climb. Net profit fell to $4.12 million, or 0.66 cents per share, in the 12 months ended June 30 from $4.41 million, or 0.74 cents, a year earlier, as the Sydney-based company took a $3.72 million charge in sharing the loss from setting up its British joint venture. Ope...

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