Tuesday, 25 August 2020 05:54

A1 result for A2

Written by Sudesh Kissun

font size decrease font size increase font size
Print
Email

A2’s net profit has increased 34% over the previous financial year.

Milk company A2 has announced a net profit of $386 million, a 34% increase over the previous financial year.

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.

Dignitaries from all walks of life – the governor general, politicians past and present, Maoridom- including the Maori Queen, church leaders, the primary sector and family and friends packed Our Lady of Kapiti’s Catholic church in Paraparaumu on Thursday October 23 to pay tribute to former prime Minister, Jim Bolger who died last week.