A2 profit down, revenue down — and full year is looking worse

A2 says its balance sheet remains in a strong position with no debt and a closing cash position of $774.6m.

Thu, 25 Feb 2021

A2 Milk’s first-half result was in line with its latest guidance, with revenue down 16% to $677.4 million but it lowered its full-year guidance as covid-19 continues to bite.This was driven by performance through the daigou and cross-border e-commerce channels being significantly impacted due to disruption resulting primarily from covid-19 related issues.On the plus side, this was partially offset by another period of strong growth for China label infant nutrition products, with sales of $213.1m, an increase of 45.2%.The group earnings be...

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Markets Market close

NZ sharemarket down 1.13% for the week

The S&P/NZX 50 Index closed at 11,796.21, down 39.83 points or 0.34%.

Graham Skellern 6:15pm

Law & Regulation

Two new judicial appointments

Attorney general Judith Collins reveals new judges for high court and court of appeal.

Staff reporters 3:15pm

Economy

Fast-track ‘stakeholders’ list released

Major corporates including Carter Group and Fonterra are on the list.

Victoria Young 2:30pm

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Boosting rural growth with innovation

Productivity and sustainability go hand in hand for the rural sector

ASB Scam Update

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Auckland's new "Midtown" taking shape

5-star hybrid workspaces, combined with the City Rail Link, are creating a revitalised inner-city zone designed to motivate workers back to the office.

Alberts