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.