a2 performing above expectation

The a2 Milk Company has posted strong fiscal reports on the back of increased sales.

The Total revenue of $155.109 million reported presents an increase of 40% over the prior corresponding period. Managing Director Geoffrey Babidge says, “The Company’s growth initiatives continue to progress in a very  positive manner and the results of this are now evident in the FY15 trading results.”

There was substantial growth in sales of the a2 Platinum infant formula across Australia, New Zealand and China with total revenue of $41.671 million, up 445% on previous results. “The growth in a2 Platinum infant formula in ANZ and China was exceptional and provides a potentially significant earnings contributor for the future,” said Mr Babidge.

A positive impact has also been seen within the liquid milk market, with sales up 10% .

Group operating EBITDA1 of $4.810 million before non-recurring costs, representing a 35% increase on prior financial results. Result reflects record operating performance in Australia and New Zealand (ANZ), complemented by investments in growth markets in the rest of the world and corporate costs to support the growth strategy

Chairman David Hearn says, “The Company has had another successful year with a strong underlying trading result and achievement of a dual listing on the ASX. The achievements in FY15 have laid the foundation for continued strong growth in both revenue and operating earnings in the year ahead.”

The positive annual report coincides with the announcement of a new product range. The company has reported that “as a result of a strong fresh milk business and increasing consumer requests, The a2 Milk Company Australia is extending the brand into a range of premium ice creams.” The ice cream will be made from a2 Milk and adds to the growing range of premium products the company offers.

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