A2 Milk's full-year net profit drops 44 percent
New Zealand-based dairy company A2 Milk reported that its full-year net profit fell 44 percent, reflecting supply chain disruptions to sales of its China-label infant formula. The company said the decline was in line with its own expectations.
New Zealand-based dairy company A2 Milk reported that its full-year net profit fell 44 percent. The company attributed the decline mainly to supply chain disruptions affecting sales of its China-label infant milk formula.
A2 Milk stressed that the result was in line with guidance it had previously issued, meaning markets had largely priced in the decline. The company noted that fluctuations in infant formula demand in the Chinese market could continue to weigh on results in the period ahead.
Investors are watching closely for when and how the company resolves its supply chain issues, and when sales in its China-label product line might recover.
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