Aus growth lifts A2 profit

MATT NIPPERT
Last updated 10:51 04/09/2012

Relevant offers

Farming

Get worries out in the open, far from any clifftops Fonterra cuts blamed on botulism scare Decision thwarts Ngai Tahu dairy plans Rural women point water woes finger at townies Farmer injured by bull Farmers urged to pay up for $2m dairy hub Council and farmers work together New farming group leader targets meat reform Success lies with harvesting beet Farming couple controlling their own destinies

Specialist milk producer A2 Corporation has doubled its profit after tax to $4.4 million on the back of strong growth in Australia.

In its full year results to June 30, released today, A2 reported its sales in Australia increased 48 per cent to $62.5m.

Sales in Australia accounted for 98 per cent of the company's operating revenue. The company's directors said in a statement that plans were afoot to expand into the United Kingdom and launch a branded infant formula in China.

A2's bottom line was bolstered by a $1.1m net settlement of a legal dispute with former licensee in the Republic of Korea.

Managing director Geoffrey Babidge said the board of the NZAX-listed company was "extremely pleased" with the results.

Ad Feedback

- BusinessDay.co.nz

Special offers
Opinion poll

What is the main issue for farmers in the upcoming General Election?

Environmental policies that stigmatise farmers and erode income.

The high exchange rate.

Slow progress in upgrading rural broadband.

Rural communities under-represented in Parliament.

Vote Result

Featured Promotions

Sponsored Content

rural digi editions 4/9

Digital editions

Read our rural publications online