Business
A2 Milk trading halt sparks concerns about outlook – The Australian Financial Review
The baby formula and fresh milk products group is heavily reliant on China, and the daigou exodus from Australia amid COVID-19 forced a2 to cut its outlook in September….
The daigou exodus – the personal shoppers who take tins of formula and vitamins to China – dried up in Australia amid COVID-19 restrictions, forcing a2 Milk in late September to cut its outlook. This was re-confirmed by chief executive Geoff Babidge at its AGM in November.
A2 Milk expected revenue in the half year ending December 31 will fall to between $725 million – $775 million from $807 million in the year-earlier period, but that full financial year 2021 revenue would rise to between $1.8 billion…
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