Business
A2 Milk downgrades guidance as daigou-linked China sales sour – Sydney Morning Herald
A2 Milk’s new boss is in for a challenge as one analyst questioned whether the milk and infant formula company had its ‘best days behind it’ after it booked a ‘disappointing’…
A2 Milk reported a 16 per cent decline in revenue to $677.4 million for the six months to the end of December and a 35 per cent fall in net profit after tax to $120 million.
These falls were driven by a decline in daigou sales, as a2 Milks products are often purchased in New Zealand and Australia by resellers who then ship them into China to sell to customers there.
The pandemic has severely affected this practice, partially due to fewer Chinese people being in Australia owing to border closures…
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