A2 Milk said it would continue to review its use of capital and would look at opprtunities to invest in blending and canning capability as part of its longer-term nutritional products sourcing arrangements. New Zealand's a2 Milk reported net profit of $195.7m for the fiscal year ended 30 June, up 116% from the year before, with the growth attributed mostly to the increase in baby formula sales in China and Australia. The company said it had a strong balance sheet that would allow it to withstand any future price rises or currency fluctuations. The company's increased investment into branding and marketing led to the rapid growth of the formula business and expansion of the liquid milk business.
New Zealand's a2 Milk reported net profit of $195.7m for the fiscal year ended 30 June, up 116% from the year before, with the growth attributed mostly to the increase in baby formula sales in China and Australia. The company said it had a strong balance sheet that would allow it to withstand any future price rises or currency fluctuations. The company's increased investment into branding and marketing led to the rapid growth of the formula business and expansion of the liquid milk business.