Market close: a2 Milk plunges, Infratil get approval for deal
18 Dec, 2020 05:00 AM
4 minutes to read
a2 Milk fell more than 22 per cent after forecasting a significant decline in revenue. Photo / File
a2 Milk fell more than 22 per cent after forecasting a significant decline in revenue. Photo / File
NZ Herald
By: Graham Skellern
Pioneering company a2 Milk s price slumped more than 20 per cent after forecasting a significant decline in revenue and it took the New Zealand sharemarket down with it. In its third downgrade of the year, a2 Milk is now expecting revenue to fall by $135 million in the six months to December compared with the same time last year, and by about $230m for the 2021 financial year because of the difficulty selling to China through the secondary daigou channel.