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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