February 14, 2017 / 7:41 PM / in 5 months

BRIEF-A2 Milk Company says HY net profit after tax NZ$39.4 mln

2 Min Read

Feb 15 (Reuters) - A2 Milk Company Ltd :

* HY total revenue of $256.1 million - an increase of 84% over the prior corresponding period (pcp)

* HY net profit after tax of $39.4 million - 290% ahead of the pcp

* Increased sales and positive operating earnings in the United Kingdom

* "Company expects to be more attractive in the medium term than one based purely on traditional dairy."

* Company is anticipating lower infant formula sales during the second half relative to 1h17

* Growth in the product portfolio will continue with the planned launch of additional nutritional products over the next 12 months

* "Expects to adopt a dividend policy following the completion of fy17."

* Investment in marketing will likely be higher in the second half by up to $15 million

* "Closely monitors the outlook relating to the regulatory environment for infant formula in China "

* "U.S. Business is expected to deliver a progressive improvement in sales velocity in its key accounts during the financial year."

* Half-year results reflects "outstanding" results from Australia/New Zealand & China businesses, driven by growth in demand for a2 Platinum(R) Infant Formula

* All figures in nz$ Source text for Eikon: Further company coverage:

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