The A2 milk corporation says it is making progress in its drive to profitability, helped by a big boost in its Australian business.
The New Zealand company owns and commercialises the intellectual property associated with A2 milk, which some scientific studies have linked to health benefits.
The company announced a further loss of $1.9 million for the six months to September, compared with a loss of more than $2 million for the same period last year.
But A2 Corporation Ltd chair Cliff Cook said the company is pleased with the way it's progressing.
He said sales in Australia where it operates a joint venture with Freedom Nutritional Products grew by 260% to $7.8 million.
Recent capital raising has allowed it to retire outstanding debt, as well as support the completion of a business plan which will move the company into profitability.
Australia is A2's biggest market, but it also launched the milk in South Korea three months ago.
