A2 Milk chief executive Geoff Babidge. The daigou trade channel to China represents a significant proportion of infant formula sales for a2 Milk's Australia and New Zealand (ANZ) business. A2 Milk's net profit hit a record $385.8 million in the June 2020 year, driven by a 34 per cent lift in infant formula sales. For that period, A2 Milk estimated that Covid-19 had a "modest positive impact on revenue and earnings" thanks to pantry filling during lockdowns. A2 Milk's shares last traded at $16.28, up 69c.

Source: New Zealand Herald November 17, 2020 21:36 UTC