A2 Milk swings to profit as revenue doubles

A2 MILK has swung to a $29.1 million full-year profit after increased sales of infant formula helped revenue more than double.

A2 MILK has swung to a $NZ30.4 million ($A29.1 million) full-year profit after increased sales of infant formula helped revenue more than double.

A2, which is dual-listed on the ASX and NZX, says growth domestically and in China lifted revenue for the 12 months to June 30 to $NZ352.8 million from $NZ155.1 million in 2014/15, when it recorded a $NZ2.1 million loss.

Managing director Geoffrey Babidge says the company expects continued growth in 2016/17 from infant formula and milk powders in Australia and China, as well as improved momentum in the US.

Originally published as A2 Milk swings to profit as revenue doubles