The a2 Milk Company has made a positive start to the year, with first-quarter sales expected to be marginally ahead of plan because of foreign exchange gains driven by the depreciation of the New Zealand dollar.
CEO David Bortolussi warned that because of the currency impact on the cost of sales and the cost of doing business, September-quarter earnings for the baby formula and fresh milk group are still expected to be in line with his plan.
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Carrie LaFrenz is a senior journalist covering retail/consumer goods. She previously covered healthcare/biotech. Carrie has won multiple awards for her journalism including financial journalist of the year from The National Press Club. Connect with Carrie on Twitter. Email Carrie at carrie.lafrenz@afr.com
