New Zealand's a2 Milk profit halves on China demand slowdown
20/02/2022 19:41
Feb 21 (Reuters) - New Zealand's a2 Milk ATM.NZ said on
Monday its half-yearly profit fell 53.3% as it continued to lose
market share in China for its infant milk formula product.
The dairy producer, suggested to be a takeover target of
Canadian dairy firm Saputo Inc SAP.TO by a media report https://www.theaustralian.com.au/business/dataroom/a2-milk-jalna-dairy-foods-in-spotlight-as-saputo-goes-shopping/news-story/83a1679faca82f77bc3da33c5abe7625,
posted first-half net profit after tax of NZ$56.1 million
($37.54 million), down from NZ$120 million a year ago.
($1 = 1.4945 New Zealand dollars)
(Reporting by Harshita Swaminathan; Editing by Toby Chopra)
((Harshita.Swaminathan@thomsonreuters.com;))
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