A2 Milk, hit by strong kiwi, to use Australian cash for global expansion

Wed, 27 Aug 2014

By Jonathan Underhill Aug. 28 (BusinessDesk) - A2 Milk Co, which markets milk with a protein variant said to have health benefits, will ramp up its expansion in the US, the UK and Asia using cash generated in its biggest market of Australia after a year in which a strong kiwi slashed the value of sales and earnings. Profit tumbled to $10,000 in the 12 months ended June 30, from $4.1 million a year earlier, the Auckland-based company said in a statement. Sales rose 17 percent to $111 million and would have been some $14 million higher if n...

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