Two milk processing plants changing hands
Two large milk processing plants in New Zealand are changing hands.
The maker of A2 milk products says it has made significant gains in revenue and earnings, with strong performances in all key product segments, and across all core markets.
Total revenue for year ending June 2020 was $1.7 billion, a 33% increase over the previous year. The company’s flagship A2 infant formula nutrition products contributed $1.4b.
Unlike many companies that were impacted by COVID-19 disruptions, A2 says its performance was robust throughout the year.
“We demonstrated significant resilience in the second half, managing the business in the face of the Covid-19 global pandemic,” it says.
“We estimate that COVID-19 had a modest positive impact on revenue and earnings for the year.”
The company says revenues in the third quarter, as Covid-19 was setting in, was well above expectations due to the impact of changes in consumer purchase behaviour.
