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...

Subscribe to BusinessDesk

Stay informed on business, government and financial developments across New Zealand.

Deeply researched, twice-edited and fact-checked news
Annual subscribers also receive a complimentary subscription to The Wall Street Journal
Personalised email news alerts, plus gift up to 5 stories a month to non-subscribers

You can cancel anytime with two clicks, an email or a phone call.
Find out more.

We are serious about journalism.

Name {{ registerForm.errors.get('name') }}

Email address {{ registerForm.errors.get('email') }}

Phone Number {{ registerForm.errors.get('phone') }}

Job Title {{ registerForm.errors.get('title') }}

Password Minimum password length of 8 characters.
Require at least one upper and lowercase, numeric, and special character. {{ registerForm.errors.get('password') }}

Repeat password {{ registerForm.errors.get('password_confirmation') }}

We had trouble validating your card. It's possible your card provider is preventing us from charging the card. Please contact your card provider or customer support.

Credit Card

Cardholder's name

{{ __(plans[index].name) | capitalize }} {{ plans[index].attributes.old_price | currency }} {{ plans[index].price | currency }}

All subscriptions auto renew but are easy to cancel.

I Accept The Terms Of Service

{{ registerForm.errors.get('terms') }}

Tax: {{ taxAmount(selectedPlan) | currency }}

Total Price Including Tax: {{ priceWithTax(selectedPlan) | currency }} {{ selectedPlan.type == 'user' && spark.chargesUsersPerSeat ? '/ '+ spark.seatName : '' }} {{ selectedPlan.type == 'user' && spark.chargesUsersPerTeam ? '/ '+ __('teams.team') : '' }} / {{ __(selectedPlan.interval) | capitalize }}

Markets Market Close

Infratil, Mainfreight hit by US news flow; NZX down 2.3%

The S&P/NZX 50 fell 2.33% to 11,836.69 points.

Gregor Thompson 5:55pm

Markets

ACC slams CDL's new offer for Millennium & Copthorne shares

The shares lifted 27% on the revised offer.

Rebecca Howard 5:15pm

ACC slams CDL's new offer for Millennium & Copthorne shares

Infrastructure

NZTA moves forward with Bay of Plenty highway

Bishop promises freight and housing perks from $3b roading project.

Oliver Lewis 4:40pm

NZTA moves forward with Bay of Plenty highway

Sponsored

Bayleys Total Property Issue 3 out now

Backed by Bayleys’ national strength and global reach

Bayleys

Sponsored

Go beyond reporting zero emissions

Clean energy that helps businesses and communities thrive

Meridian Energy

More Primary Sector

Primary Sector

Potential Mainland buyers may soon tap regulators

Fonterra's divestment process is gaining traction.

Riley Kennedy 17 Apr 2025

Primary Sector

Urgent call for change in lagging agri-products approval pathway

But the regulators say changes are being made.

Riley Kennedy 17 Apr 2025

Primary Sector

TTR files fast-track application to mine Taranaki sand

Seabed mining firm Trans-Tasman Resources has lodged its application to fast-track its project to harvest iron sands off the coast of Taranaki. The firm's parent company, Manuka Resources, told the Australian Securities Exchange (NZX) on Wednesday that the application was lod...

Staff reporters 16 Apr 2025

Primary Sector

Scott Technology's revenue drops 14%

Its long term strategy is not far away.

Riley Kennedy 16 Apr 2025

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

More Primary Sector

Your company has a subscription

Team