a2 Milk annual net profit surges 116%

Company News

by Rachael Jones

The a2 Milk Company (ASX:A2M) saw its net profit hit NZ$195.7 million that’s 116 per cent up from the prior corresponding period.

Total revenue of $922.7 million – an increase of 68 per cent over the same time last year. This was in line with guidance.

EBITDA is $283.0 million – up 101 per cent on last year.

Strong sales in China and Australia saw a jump in earnings. a2 Platinum infant formula grew substantially.

The company also enhanced strategic partnerships with Synlait and Fonterra.

Basic earnings per share (EPS) of 27.0 cents – up from 12.7 cents on last year.

Shares in A2 Milk Company (ASX:A2M) closed 1.2 per cent higher to $10.09 yesterday
    

Rachael Jones

Finance News Network
Rachael comes to FNN after working for Fairfax Media covering international breaking news, including the global economy and politics. She joined FNN in February 2018. She has reported on Australia’s finance news for various organisations since 2000 and has also interviewed a number of key business players, including Bill Gates. Rachael has also worked across a number of countries, including the UK and the US.