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A2 Milk Surges on China Sales Boost

16 Feb

Summary

First-half earnings rose 9.4% to NZ$112.1 million.
Revenue increased 19% to NZ$993 million, with upgraded guidance.
China infant formula sales grew, driven by birth rate recovery.

New Zealand-based infant formula distributor a2 Milk reported a substantial increase in first-half earnings, a rise of 9.4% to NZ$112.1 million. The company also announced an upgraded full-year revenue forecast, projecting a mid double-digit percentage increase, up from previous low double-digit expectations.

This positive outlook positions a2 Milk to achieve its NZ$2 billion medium-term sales ambition in FY26, a year ahead of schedule. CEO David Bortolussi highlighted that infant milk formula remains central to their growth strategy and continues to outperform the China market. Sales in China saw significant growth, partly attributed to an anticipated recovery in birth rates following a dip in 2025, supported by government policies encouraging births.

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