FIRST CUT: A2 more than doubles 1H net profit

Tue, 19 Feb 2019

By Rebecca Howard Feb. 20 (BusinessDesk) - A2 Milk's first-half profit lifted 55.1 percent as infant formula revenue continued to soar. Net profit rose to $152.7 million in the six months ended Dec. 31 from $98.5 million a year earlier as sales climbed 41 percent to $613.1 million, Auckland-based, Sydney-headquartered a2 said. Sales of infant formula totalled $495.5 million for the half – an increase of 45.3 percent on the prior year driven by share gains in China and Australia. Its earnings before interest, tax, depreciation and ...

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