Aug 22 (Reuters) - New Zealand’s a2 Milk Company said its annual profit more than doubled on Wednesday, above market expectations as rising demand in diary-hungry China bolstered its business.
It reported a net profit after tax of NZ$195.7 million for the year ended June 30, a 116 percent jump, which beat the NZ$189.3 million average forecast of analysts polled by Thomson Reuters I/B/E/S.
a2 Milk Company also reported a 68 percent surge in annual revenue to NZ$922.7 million, but flagged higher costs ahead as it seeks to stay competitive. (Reporting by Nikhil Kurian Nainan in Bengaluru Editing by Mark Heinrich)
