Superannuation

China boosts a2 Milk sales to $525 million


THE a2 Milk company’s third-quarter sales have beaten expectations as Chinese and Australian demand outstripped the milk marketer’s projections.

The Auckland-based, Sydney-headquartered company forecasts revenue of $525 million in the year ending June 30, up 49 per cent from $352.8 million a year earlier, it said in a statement.

a2 generated sales of $388 million in the nine months ended March 31, with third-quarter infant formula sales exceeding expectations.

“Demand has been particularly strong in Australia, but also through the cross- border e-commerce channel into China,” managing director Geoff Babidge said.

“On the assumption of continuing strong demand for a2 Platinum infant formula and production deliveries achieved consistent with the revised production schedule, the company is now expecting infant formula sales for the second half [of 2017] to exceed sales achieved in first half.”

In February, a2 scaled back its expected growth for infant formula sales as Chinese r…

Read the full article at: http://www.news.com.au/finance/superannuation/china-boosts-a2-milks-forecast-annual-sales-to-525-million/news-story/94a53f04ade46bb1450706eea7fb2e28

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