Aus growth lifts A2 profit

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

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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.

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- © Fairfax NZ News

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