The a2 Milk Company has forecast its revenues will hit $285 million in the 2016 financial year.
The milk company said it has experienced a significant uplift in sales of infant formula in the month of November, exceeding the sales projected at the time of the previous forecast. This is expected to continue in the month of December.
Based on the current trading trends, the a2 Milk Company is now forecasting Group revenue in the range of $300 million to $315 million, and Group operating EBITDA in the range of $33 million to $37 million for the 2016 financial year.
The Company’s Managing Director & CEO Mr. Geoffrey Babidge said, “The infant formula market in Australia is rapidly evolving and experiencing significant growth. The Company has recently increased the supply of a2 Platinum infant formula to our customers however we continue to experience a level of out of stocks on shelf. The strong trading performance advised today provides further evidence of the increasing appeal of the a2 Platinum brand in Australia and China and the growth potential in additional markets in the future”.