a2 Milk Company
(ASX:A2M) has released an optimistic forecast on its upcoming financial results. The company’s forecast is that cash on hand will exceed $50 million in the second half of the year.
The milk manufacturer also says, for the 2016 financial year, group revenue will likely be between $350 and $360 million, and Group EBITDA will be in the range of $52 to $54 million.
a2 Milk says its increased forecast takes into account recent changes to infant formula regulation in China, such as the Cross Border E-Commerce tax.
The company has also been added to the S&P / ASX 200 index, effective after close of trade this Friday.
a2 Milk reported a net profit of $9.48 million at 31 December 2015.
