A2 Milk said an immediate recovery in the business was not expected. The downgrade was the market's worst kept secret, but a2 Milk's new chief executive David Bortolussi defended its timing. A2 Milk has about $850m in the bank - with about $400m yet to be spent on its Mataura Valley Milk acquisition. A2 Milk said the revised outlook did not reflect the underlying performance or strength of the business. Nathan has been a key figure in a2 Milk's success in recent years due to his expertise in the unofficial daigou trade into China.

Source: New Zealand Herald May 09, 2021 21:05 UTC