Friday, March 29, 2024

a2 Milk Company first half results

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The A2 milk company shares jumped by nearly 8% in a day on February 25 when the half year results were announced. However, at $0.55, the shares remained below a month ago, thanks to a general slide during February. 
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The highlight in the half year results were a 38% increase in revenue, compared to the previous corresponding period, thanks to a strong result in Australia for both fresh milk and infant formula. The company has also reported that its business operations in multiple countries are gaining traction. There has been a renewal of the a2 platinum infant formula distribution into China and there are plans to launch into the US by the end of the year. Meanwhile the plans to progress into the UK are going to plan.

The EBITDA was $3.27 million before non-recurring items, which was an increase of 27% over the first half last year. Revenue was $74.79 million.

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