A2 slashes guidance even further, share buy-back on the cards

Mon, 10 May 2021

The A2 Milk Company has slashed guidance again as excess inventory bites and the board is now looking at a possible share buy-back.The company is now targeting revenue for FY21 in the order of $1.20 billion to $1.25b, it said.In February it said it was targeting revenue of $1.4b, guidance it had already cut from $2b in November. According to A2, while third-quarter trading has been “broadly in line with plan, it is clear that the actions taken to address challenges in the daigou/reseller and cross border ecommerce channels (CBEC) wil...

Subscribe to BusinessDesk

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

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].interval) | 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 }}

Retail

Card spending eases in November vs October

But there is cheer for the hospitality industry.

Jonah Franke-Bowell 1:15pm

Energy

Coal use for electricity generation increases 150%

Coal and reducing operations at NZ's largest energy users got us through winter.

Ian Llewellyn 12:30pm

Coal use for electricity generation increases 150%

Markets

Spark sells remaining Connexa stake for $314m

The sale will result in a $70m gain on telco's books.

Ben Moore 11:45am

Spark sells remaining Connexa stake for $314m

Sponsored

Why Kiwis are embracing Bitcoin ETFs

The once hard-to-access investment option is becoming mainstream.

Smart

Sponsored

Boost worker health, boost results

Research shows flexible workspaces improve health and productivity

Regus

More Primary Sector

Primary Sector

Zespri on track for 'moderate increase' in volume next year

Zespri's producer vote to expand global supply passed this week.

Riley Kennedy 9:05am

Primary Sector

Yashili NZ revenue dropped 42%

The Chinese-owned dairy processor’s accounts were due in May.

Riley Kennedy 5:00am

Primary Sector

Zespri growers vote in favour of expanding global supply

Zespri’s growers have voted to support the expansion of the kiwifruit marketer’s global supply.A total of 90.6% of voting growers and 93.3% by fruit weight voted in favour of the resolution, which will allocate up to 420 hectares of SunGold fruit per year over six years in Italy,...

Riley Kennedy 11 Dec 2024

Primary Sector

Greyhound racing to end

Winston Peters says it will be phased out over 20 months.

Riley Kennedy 10 Dec 2024

A2 slashes guidance even further, share buy-back on the cards

More Primary Sector

Your company has a subscription

Team