A2 Milk reports soaring net profit

Company News

A2 Milk Company Limited (ASX:A2M) has reported a lift in net profit to $NZ10.1 million in the six months to 31 December, versus $125,000 the previous corresponding period.
 
Total revenue grew 86 percent to $139.1 million.
 
The group noted a2 Platinum infant formula as a significant contributor to growth and earnings in ANZ and China with revenue growth of 340% to $73.9 million.
 
Managing Director Geoffrey Babidge said the company sees positive prospects for the growth of a2 Milk whole milk powder, which was first launched late last financial year.
 
The company will not pay an interim dividend.

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