Global revenue of alternative milk brand A2 jumped up by more than 80% for the six months to 31 December, while year-on-year UK sales hiked by 45%. Total sales for the period increased by 84% to 147.5m, while EBITDA rose 243% to 39.9m and net profit rose 290% to 22.7m.
A2 CEO, Geoff Babidge, thanked Australia, New Zealand and Chinese markets for the company’s outstanding results. Its best-selling Platinum infant formula has seen a year-on-year sales increase of 414%. The brand claims its milk to have A2 beta-casein protein which has better gastrointestinal effects for people suffering from dairy allergies. The normal milk sold in supermarkets contains A1 protein which can cause gastrointestinal difficulties for some.
A2 milk has performed significantly better in the UKJ during the period. As per The Grocer’s Top Products Survey 2016, A2 Milk registered a sales growth 35% to £1.5m last year in the UK.
A2 Milk Company China and UK CEO Scott Wotherspoon said: “We’re really pleased with the brand’s performance in the UK. It has taken time to get traction, probably longer than we originally planned, but what we are seeing now is that people are starting to understand the product and how it can benefit them. Our growth has been driven by some extra listings but mainly by new shoppers.”