New Zealand’s a2 Milk reported a 44% drop in its full-year profit on Monday, dragged down by lower revenue from its key China-label infant milk formula product as temporary supply chain disruptions constrained its availability.
The dairy producer recorded net profit attributable of NZ$113.6 million ($66.91 million) for the year, compared with NZ$202.9 million in the previous year. That missed the Visible Alpha consensus estimate of NZ$121 million.
On an underlying basis, a2 Milk reported full-year profit of NZ$235.8 million, 7% higher than last year.
Original reporting: Appleton, WI News Feed (HLL/CB) — read the source article.
