Australasian dairy powerhouse a2 Milk continued its rapid growth in the first half of the year, boosting revenues and profits and accessing an increasingly global marketplace.
The company booked an EBITDA up 20.5 per cent to NZ$263.2 million on total revenue up 31.6 per cent to $806.7 million.
Net profit after tax was $184.9 million.
Marketing spend of $84.1 million focused on opportunities in China and the United States.
Chinese infant nutrition sales with Chinese and English language labelling doubled to $146.7 million over the previous corresponding period, and US milk revenue doubled.
The company said in a statement: “In Greater China we remain focused on strengthening our infant nutrition position in-market.
“In the USA we continue to drive towards meaningful scale, with sales more than doubling compared to (the first half of 2019).”
During the half the company exited the fresh milk market in thew UK, and entered the infant formula market in Hong Kong and Korea with its partner YuhanCARE.
Australia still remains the company’s biggest market, accounting for revenue of $460.2 million.
The company’s a2 fresh milk sales in Australia grew 11.3 per cent.
Note: all figures are in NZ$
Picture: a2 Milk
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