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A2 Milk Co increased its annual sales by 68%, exceeding the forecast given in May, and stated that it hoped to maintain a profit margin of about 30% during the year. coming year, despite the increase in spending.
The Auckland-based company, based in Sydney, announced a business turnover of $ 922 million for the fiscal year ended June 30, compared with $ 549.5 million the year previous year, exceeding the $ 920 million forecast in May. Earnings before interest, taxes, depreciation and amortization accounted for approximately 30% of sales, which means a turnover of $ 277 million, compared with $ 143 million in June 2017.
A2 had previously stated that sales growth involved both nutritional products and fluid milk and that it focused on gross margin.
Today, the milk marketing company is planning "a new growth in the turnover. "and has planned to raise its marketing expenses as a percentage of sales, and to hire more staff in China and head office.It also expects some one-time costs related to the transition of the new General Manager Jayne Hrdlicka, which will begin July 16.
Even with these additional costs, the company expects the EBITDA margin to remain around 30% over the 2019 fiscal year. [A2199002] ] A2 disappointed investors with its May forecast when it said the 49.8 percent gross margin in the first half is expected to continue in the second half, with plans for expansion in the US and China leading to higher marketing costs.
The shares traded for the last time at $ 11.77 and have jumped 46% so far this year, making it the largest local stock market company with a market value of $ 8.49 billion.
(BusinessDesk )
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