a2 Milk shares surge 17pc after solid first half

News Snapshot:

Sales in China and other Asian countries were up 16.5 per cent in the half, but Australia/NZ fell 24.1 per cent due to a change in distribution strategy. Basic earnings per share (EPS) was up 18.6 per cent to 11.8NZ¢. A2 Milk does not pay dividends. The balance sheet remains in a strong position with closing net cash of $NZ792.1 million. Chief executive David Bortolussi said the group continued to execute against its growth strategy focused on China which now represents about 80 per cent of total branded sales. China’s birth rate was better than expected in calendar 2023 with...