The a2 Milk Company (ASX:A2M) see growth in infant nutrition sales

Company News

by Rachael Jones

The a2 Milk Company (ASX:A2M) report a net profit after tax of $184.9 million for the half year, an increase of 21.1 per cent on the prior corresponding period.

Total revenue increased 31.6 per cent to $806.7 million, and EBITDA of $263.2 million, an increase of 20.5 per cent.

The overall result reflects the continued growth in their infant nutrition segment with sales totalling $659.2 million for the period – an increase of 33.1 per cent on the prior corresponding period.

The company was also pleased with the strong growth in China label infant nutrition products, with sales of $146.7 million, an increase of 100 per cent.

Liquid milk sales in Australia were up 11.3 per cent to $74.7 million and sales in the USA more than doubled compared to 1H19.

Shares in the a2 Milk Company (ASX:A2M) closed 0.93 per cent lower at $15.00 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.