Feb 16 (Reuters) – New Zealand’s a2 Milk reported a 9.4% rise in half-year profit on Monday, supported by the robust performance of its infant milk formula product segment in its key China market. Revenue from the firm’s China-and-other-Asia segment jumped 20.3%, helped by growth in its English-label infant milk formula (IMF) and other nutritionals. […]
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New Zealand’s a2 Milk posts 9.4% rise in interim earnings
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Feb 16 (Reuters) – New Zealand’s a2 Milk reported a 9.4% rise in half-year profit on Monday, supported by the robust performance of its infant milk formula product segment in its key China market.
Revenue from the firm’s China-and-other-Asia segment jumped 20.3%, helped by growth in its English-label infant milk formula (IMF) and other nutritionals.
The dairy producer posted net profit after tax attributable to continuing operations of NZ$112.1 million ($67.66 million) for the half-year ended December 31, compared with NZ$102.5 million a year ago. That beat the Visible Alpha consensus estimate of NZ$104 million.
It also declared an interim dividend of 11.5 NZ cents per share, higher than the 8.5 NZ cents declared a year ago.
(Reporting by Nichiket Sunil and Keshav Singh Chundawat in Bengaluru; Editing by Alexander Smith and Edmund Klamann)