A2 Milk posted a 290% surge in interim earnings to NZD39.38m ($36.8m) in the December half, from NZD10.1 m a year earlier. The company attributed rising profits to strong sales during China's "singles day" sales and increased market share in Australia and China. However, the rate of growth partly reflects inventory shortages the company experienced the previous year. Dairy NZ said it had net income of NZD 1.3bn for the year, up from an adjusted loss of NZD 1.04bn.
A2 Milk posted a 290% surge in interim earnings to NZD39.38m ($36.8m) in the December half, from NZD10.1m a year earlier. The company attributed rising profits to strong sales during China's "singles day" sales and increased market share in Australia and China. However, the rate of growth partly reflects inventory shortages the company experienced the previous year. A2's managing director added that China's evolving regulatory environment could hurt the flow of product from the country.