A2 Corporation is set to fully launch its speciality infant formula into the Chinese market and it will also bring other new products to market.
Annual net profit fell 6.5% to $4.1 million in the 12 months to the end of June, largely because it paid tax this year and received a tax credit last year.
The previous year's result also included a one-off $1 million benefit from settling a legal dispute.
The speciality milkcompany paid $1 million in tax during the 2013 financial year, and its pre-tax profit rose a quarter to $5.1 million.
A2 broadened its product range to include infant formula, which it's branded Platinum.
The last nine months have been focussed on putting a supply chain in place for the infant formula, which is New Zealand-sourced and packaged, and will be exported through its distributor, China State Farm Holding Shanghai.
Chief executive Geoffrey Babidge said sales to Chinese consumers are planned from November and that's been a key strategic priority for the company, particularly during the last 12 months.
During the next 12 months they are also looking at the development of long-life UHT A2 milk into China and other markets in Asia.
Mr Babidge said the infant formula has also launched in Australia and will be in New Zealand from next month.
