FIRST CUT: A2 Milk doubles profit in 2018 on strong formula sales

Tue, 21 Aug 2018

By Sophie Boot Aug. 22 (BusinessDesk) - A2 Milk Co more than doubled its 2018 profit as it lifted its margins on increased infant formula sales. Net profit rose to $195.7 million in the year ended June 30, from $90.6 million a year earlier, on a 68 percent lift in revenue to $922.7 million. Earnings before interest, tax, deprecation and amortisation also more than doubled to $283 million. The company already gave that revenue figure last month, just beating its $900 million-to-$920 million forecast from May, and at the time said ebitda wa...

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