Revenue ($NZm) 677.4, down 16pc from year-earlier 805.3
Pretax profit ($NZm) 175.3 v 261.5
Net profit ($NZm) 120 v 184.9
No interim dividend
The new boss of The a2 Milk Company, David Bortolussi, has described the half-year results as “disappointing” and slashed the full-year outlook, while seeking to calm investors’ nerves by saying the opportunity in China remains large.
Mr Bortolussi, who only took the helm of the one-time market darling on February 8 from Geoff Babidge, faced investors for the first time, telling them that there continues to be unprecedented levels of uncertainty and volatility globally because of COVID-19.
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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
