23 Aug 2017

Baby food firm's winning formula

2:54 pm on 23 August 2017

Specialist baby-food maker A2 Milk has tripled its full-year profit because of strong demand for its infant formula and liquid milk.

milk powder

Photo: 123rf

Its net profit in the year to June rose to $90.6 million, compared with the same period last year.

Revenue rose by more than half to $549.5m.

Its core markets - Australia and China - continue to drive the company, especially sales of the A2 Platinum infant formula product.

Other markets - the United States and Britain - are also expanding.

Managing director Geoff Babidge said it has a winning formula with customers and the company was planning to expand its product range.

A2 plans to undertake a share buy-back of up to $40m over the next 12 months after a review of its capital management.

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