Directors had expected second half sales of the A2 Platinum infant formula to be weaker than during the first half but demand had continued increasing, especially in Australia and also through the cross-border e-commerce trade into China also known as the grey or daigou channel.
A2 reported total group sales for the nine months to March 31 of $388.5 million, higher than the $352.8m recorded in the full 2016 year to June 30.
It now forecast total sales of $525m for this year, a 48% year-on-year gain over 2016, which in turn was 127% higher than 2015.
Directors had expected the first half sales to be higher than the second half because that was when most of the major selling events were held in China.
Managing director Geoff Babidge said the group was working closely with its infant formula manufacturing partner, Canterbury-based Synlait Milk, to increase production through the balance of the financial year.
A2 had recently become a shareholder in Synlait.
A2 shares rose 14c to $3.34 on Wednesday afternoon in early trades on the NZX following the sales report.
