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Market savages A2 Milk after annual result

UPDATE: About $1 billion wiped off milk marketer's market capitalisation as investors react to challenging outlook for the coming year.

A2 Milk chief executive David Bortolussi.

Tim Hunter Mon, 19 Aug 2024
Key points
  • Revenue: Up 5% to $1.67 billion for the year to June. 
  • Profit: Up 6% to $153.9 million. 
  • Main takeaway: Despite revenue and profit rising, the market reacted negatively to the milk marketer's earnings outlook. 

UPDATE: The market reacted savagely to a perceived slowdown in infant formula marketer A2 Milk’s growth outlook, slashing its share price as much as 21% from Friday’s close on heavy volume.

By early afternoon the stock had recovered to $6.35 after trading as low as $6.08, with turnover

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Tim Hunter Mon, 19 Aug 2024
Contact the Writer: thunter@nbr.co.nz
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Key points
  • Revenue: Up 5% to $1.67 billion for the year to June. 
  • Profit: Up 6% to $153.9 million. 
  • Main takeaway: Despite revenue and profit rising, the market reacted negatively to the milk marketer's earnings outlook. 
Company profile
Powered by: nzx logo
Change:
Price
Previous Close
Turnover
Movement
Volume
Avg Daily Volume
Daily High
Daily Low
52 Week High
52 Week Low
Market savages A2 Milk after annual result
Investment,
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