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MarketScreener Homepage  >  Equities  >  New Zealand Stock Exchange  >  The a2 Milk Company Limited    ATM   NZATME0002S8

THE A2 MILK COMPANY LIMITED

(ATM)
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End-of-day quote. End-of-day quote New Zealand Stock Exchange - 10/21
15.46 NZD   -2.03%
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A2 Milk Sales Dented by Victoria Pandemic Restrictions --Update

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09/27/2020 | 04:40pm EDT

WELLINGTON, New Zealand--Infant formula marketing company a2 Milk Ltd. said the pandemic lockdown in Australia's Victoria state has disrupted surrogate-shopping sales of its products to mainland Chinese consumers.

The New Zealand company on Monday said a contraction in so-called "daigou" sales was larger than it had expected. That would result in "materially below plan" sales for New Zealand and Australia in the first half, it said.

Besides pandemic restrictions in Victoria, surrogate-shopping sales in Australia were also affected by the border closure which cut off tourism and international students from China, a2 Milk said.

"We are now witnessing a contraction in the daigou channel beyond our previous expectations and without the replenishment orders that would typically be anticipated at this point," it said.

The company expects a significant improvement in overall performance in the second half, helped by growth in China, and continues to see an operating profit margin of about 31%.

It forecast full-year revenue of 1.8 billion to 1.9 billion New Zealand dollars ($1.18 billion to $1.24 billion). First-half revenue was forecast at NZ$725 million to NZ$775 million.

 

Write to Stephen Wright at stephen.wright@wsj.com

 


Stocks mentioned in the article
ChangeLast1st jan.
CLASS III MILK FUTURES (DC) - CMG (ELECTRONIC)/C1 0.56% 21.6 End-of-day quote.11.18%
CLASS IV MILK?FUTURES (GDK) - CMG (ELECTRONIC)/C1 -1.10% 13.52 End-of-day quote.-19.48%
DRY WHEY?FUTURES (DY) - CMG (ELECTRONIC)/C1 0.29% 34.3 End-of-day quote.4.10%
MILK (CLASS III) (DA) - CMR (FLOOR)/C1 0.09% 21.48 End-of-day quote.0.00%
NONFAT DRY MILK FUTURES (GNF) - CMG (ELECTRONIC)/C1 0.45% 107 End-of-day quote.-12.22%
THE A2 MILK COMPANY LIMITED -2.03% 15.46 End-of-day quote.2.93%
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More news
Financials
Sales 2021 1 831 M 1 210 M 1 210 M
Net income 2021 395 M 261 M 261 M
Net cash 2021 1 151 M 761 M 761 M
P/E ratio 2021 29,6x
Yield 2021 -
Capitalization 11 718 M 7 719 M 7 743 M
EV / Sales 2021 5,77x
EV / Sales 2022 4,48x
Nbr of Employees -
Free-Float 91,0%
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Technical analysis trends THE A2 MILK COMPANY LIMITED
Short TermMid-TermLong Term
TrendsBearishBearishNeutral
Income Statement Evolution
Consensus
Sell
Buy
Mean consensus HOLD
Number of Analysts 9
Average target price 18,27 NZD
Last Close Price 15,78 NZD
Spread / Highest target 45,8%
Spread / Average Target 15,8%
Spread / Lowest Target -17,6%
EPS Revisions
Managers
NameTitle
Geoffrey Howard Babidge Chief Executive Officer
David Lovat Hearn Chairman
Shareef Khan Chief Operations Officer
Strauss Race Chief Financial Officer
Julia Cecile Hoare Deputy Chairman