A2 Milk reports better sales than expected
The A2 Milk Company is experiencing higher than expected demand for its infant formula in China, enabling the business to increase its forecasted sales results for its 2017 financial year.
In releasing its first half 2017 financial year results, The A2 Milk Company had said in February 2017 that it expected its infant formula sales to fall off in the second half of the year.
Yet, now in a new trading update, the company has however announced that demand for its infant formula has continued in China, accompanied by particularly strong demand in Australia.
As a result, the business confirmed that for the 9 months ended 31 March 2017, group revenue was NZ$388.5 million.
The A2 Milk Company reports that it has been able to increase its production schedule with manufacturing partner, Synlait Milk, to answer the demand.
It is now forecasted that The A2 Milk Company will achieve a revenue of NZ$525 million for its 2017 financial year.
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