a2 Milk's share price drops 11% on weak outlook

(Image: NZME)

Mon, 19 Aug 2024

The a2 Milk Company's share price has fallen more than 11% after a disappointing outlook for the new financial year.The dual-listed milk marketer reported an increased net profit on Monday of $167.6 million, up 7.7% for the 12 months to the end of June.In its outlook, the company said it was expecting revenue growth of “mid-single” percent and its ebitda margin to be “broadly similar" to the year just gone.As of 11am, its share price on the New Zealand Exchange (NZX) was down 11.5% to $6.84, with just under 135,000 sh...

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