Milk company a2 Milk has recorded a 33 per cent surge in revenue, largely thanks to Chinese panic-buyers stocking up on baby formula in the initial stages of the coronavirus pandemic. Sales of infant formula more than doubled over the 2019-2020 financial year to $307.61million, accounting for about one third of a2 Milk's total sales. A2 Milk refers to the beta-casein proteins found in milk, and is marketed towards consumers who are lactose intolerant or have troubles digesting dairy. Chinese milk producers were found to be artificially boosting the protein content of diluted baby formula by adulterating products with melamine - a toxic chemical used to make plastic. Despite the strong result, the a2 Milk Company's share price had fallen 2.51 per cent to $20.96 per share at 11:40am NZ time on Wednesday.

Source: Daily Mail August 19, 2020 01:26 UTC