a2 Milk at six-week low
By Darren Gray
Shares in a2 Milk are down 5.4 per cent to $18.43 today, the lowest price since 29 June.
The company's full-year income fell just below estimates this morning. The infant formula, nutrition and milk business, which is listed on both the New Zealand and Australian markets, reported revenue of $NZ1.73 billion ($1.57 billion), just shy of the $NZ1.75 billion market consensus figure.
A2 said it had recorded strong growth in its Chinese label infant formula products sold in the world's most populous nation, with sales more than doubling to $NZ337.7 million. This was helped by a wider distribution network, with its products now available in about 19,100 stores.
Underlying net profit came in at $NZ385.8 million, up a hefty 34.1 per cent on the prior year.
a2 Milk at six-week lowBy Darren GrayShares in a2 Milk are down...
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