A2 shares plunge 12.1% as 1H sales likely to fall up to 10%

Mon, 28 Sep 2020

A2 Milk said its first-half revenue could fall as much as 10 percent because of disruption to the daigou trade stemming from the Australian state of Victoria returning to stage 4 lockdown after a resurgence in covid-19 infections.The hit has been particularly hard to the corporate, or wholesale, daigou trade, where Chinese companies buy stock in Australia for sale in China.However, A2 expects to have a stronger second half with annual revenue up between 4 percent and 9.8 percent and its annual profit margin to be slightly stronger than it was f...

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