The a2 Milk Company Limited (ASX:A2M) notified the market about its FY 2020 outlook update and trading performance. Key highlights are as follows
- For 3Q FY 2020 ending 31 March 2020, A2M’s revenue was above expectations driven by the increase in pantry stocking of its products during COVID-19.
- Also, A2M’s China segment revenue and earnings were positively impacted by USD:NZD exchange rate movement.
- For FY 2020, A2M expects its revenue to lie in between $1700 million to $1750 million.
- EBITDA margin for FY 2020 is likely to be in the range of 31 percent to 32 percent, which is higher than February estimates.