A2 Milk shares fall as Bellamy's slide continues

Sophie Boot
Thu, 12 Jan 2017

By Sophie Boot Jan. 12 (BusinessDesk) - A2 Milk Co shares fell today, with rival ASX-listed Bellamy's Australia sliding another 17 percent after yesterday's slump when it cut its profit forecast for the second time, announced chief executive Laura McBain's exit, and tweaked the terms of its supply contract with Fonterra Cooperative Group. As at 2 pm in Wellington, Bellamy's ASX-listed shares had dropped to A$4.46, the lowest since August 2015. On the local index, A2 Milk fell 1.3 percent to $2.25, while Fonterra Shareholders' Fund rose 1...

Try free for 10 days

Trustworthy, balanced journalism every day from our growing team of New Zealand business reporters and commentators, plus more in our weekend magazine section, The Life.

Instant News Alerts based on keywords you choose or journalists you follow
Our Daily Digest of all stories at 6am, midday or 6pm
A custom library of your saved stories
An industry-leading search engine
Try for 10 days without paying and if you’re not convinced cancel with just two clicks.

Support quality New Zealand journalism by subscribing today.

Find out more

Not convinced yet?

Subscribe to our Daily News Update free newsletter.

Coronavirus

Covid vaccine: Why NZ bought options for 5 million doses

Brent Melville | Tue, 22 Sep 2020

A back-of-the-envelope calculation shows NZ’s $26.7 million upfront payment to WHO's Gavi vaccine alliance has bought it an option for 5.15 million doses, once it's developed.

Markets

MARKET OPEN: Kiwi slumps as traders lose their nerve

Paul McBeth | Tue, 22 Sep 2020

The New Zealand dollar dropped more than 1 US cent as traders dumped risk-sensitive assets amid renewed fears about the economic impact of the covid-19 pandemic.The kiwi dropped to 66.66 US cents at 8am in Wellington from 67.71 cents at 5pm yesterday, joining an extended selloff...

Economy

Entitled or unethical? Big business and the wage subsidy

Rebecca Stevenson | Tue, 22 Sep 2020

Should a profitable company pay back the wage subsidy?

Partner Content

The whole story behind good investment decisions

If there was ever a time when strong financial metrics were the single trademark of a good company, that time has long passed. Responsible investors need to know beyond the profit a company will generate this year or next.