New Zealand's a2 Milk full-year profit rises 21%

The infant formula maker's net profit after tax attributable came in at NZ$202.9 million ($120.12 million) for the year ended June 30, up from NZ$167.6 million a year ago and marginally beating the Visible Alpha consensus of NZ$202.2 million. Effective marketing campaigns in China, even as it faces a decline in birth rates, along with improved brand health metrics drove a 12.4% jump in infant formula sales led by sales momentum in English-label products. Infant milk formula sales from China and other Asian markets, its largest revenue source, jumped nearly 14% to NZ$1.3 billion for the year.