Money A2 Milk tips FY revenue to jump up to 67%

12:05  16 may  2018
12:05  16 may  2018 Source:   msn.com

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A 2 Milk tips FY revenue to jump up to 67 %. Should you buy A 2 Milk Company Ltd shares this week? Is now a good time to pick up A 2 Milk Company Ltd (ASX: A 2 M) shares or have they topped out?

A 2 Milk said revenue for the nine months ended March 31 was NZ0 million, up about 70 percent from last year . ( = 1.4579 New Zealand dollars) (Reporting by Nicole Pinto in Bengaluru Editing by James Dalgleish).

The A2 Milk Company expects full year revenue to be between $826.8 million and $845.2 million, compared to $505.3 million in the previous year.© AAP Image/Paul Miller The A2 Milk Company expects full year revenue to be between $826.8 million and $845.2 million, compared to $505.3 million in the previous year. The A2 Milk Company expects full year revenue to rise as much as 67 per cent after a surge in revenue in the first nine months of the financial year.

Revenue for the 12 months to June 30 is expected to be between $826.8 million and $845.2 million compared to $505.3 million in the previous year, the company said on Wednesday.

The New Zealand dairy company said revenue for the nine months to March 31 was $606 million, up about 70 percent from the same time a year ago.

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NZ's A 2 Milk revenue forecast misses expectations, shares drop 20 pct. A 2 's revenues more than tripled in the three years to June 2017 as its infant formula was embraced by Chinese parents, driving its shares up more than 600 percent since the start of 2016.

A 2 Milk said revenue for the nine months ended March 31 was $NZ660 million, up about 70 percent from last year on the back of strong sales growth in its nutritional products and liquid milk .

Driving the strong performance was continued sales growth in both its nutritional products and liquid milk, as well as seasonal sales from key selling events in China.

In February the company more than doubled its first-half profit to $62.96 million on the back of strong growth in A2's infant formula business and higher liquid milk sales in core markets.

It lifted revenue 70 per cent to $399.73 million and secured an alliance with global dairy giant Fonterra to produce new products and expand into new markets.

A2 Milk on Wednesday said it expects to spend about $75.4 million to $80 million on marketing investments for the full year, given higher expenditure primarily in its US and China businesses.

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