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A2 Corporation growth continues to plan

26 February 2014

A2 Corporation growth continues to plan

Highlights

• Strong growth in Group revenue, up 22.0% on the prior corresponding period

• Increased market share in Australia to 8% by value in grocery

• New UK business structure in place and positive sales trends

• First sales of infant formula to consumers in China and ANZ

• Plans advancing for entry into North America market

Revenues grew strongly over the corresponding half as a function primarily of ongoing growth in a2™ brand fresh milk in the Australian market. The revenue growth in AUD on the prior corresponding period was 28.3% and the a2™ brand remains the fastest growing dairy brand in grocery in Australia. The launch of a2™ Platinum™ infant formula to consumers in China, Australia and New Zealand took place during the half. New arrangements to accelerate development of the business in the United Kingdom were progressed with acquisition of the UK joint venture completed on 1 January 2014. A plan to enter the North American fresh milk market is progressing.

Managing Director Geoffrey Babidge said “the continuing strong performance of the Australian business together with the momentum building around our priority initiatives in the United Kingdom and infant formula were the highlights of the first half. Our confidence in the development of the Group over recent times has enabled the Company to advance North America as the next priority growth initiative. ”

Read the full report here:

2014_hy_announcement.pdf

ENDS

© Scoop Media

 
 
 
 
 
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