August 20, 2019 / 8:37 PM / 4 months ago

New Zealand's a2 Milk posts 47% rise in annual profit

Aug 21 (Reuters) - New Zealand’s a2 Milk on Wednesday posted a 47% jump in annual profit, helped by higher demand for its infant formula and dairy products in China and market share gains in the United States.

Net profit after tax for the year to June 30 was NZ$287.7 million ($184.56 million), compared with NZ$195.7 million last year. The figure was lower than a Morgans forecast of NZ$302.7 million.

$1 = 1.5588 New Zealand dollars Reporting by Nikhil Kurian Nainan and Ambar Warrick in Bengaluru; Editing by Bernard Orr

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