The a2 Milk Company (NZX:ATM) is expecting its revenue to increase in the second half of the year led by increased sales in China. The company is anticipating improvement in the daigou channel and continued growth in China label business. In 1HFY21, the company is expecting to report group revenue of $725 million to $775 million. For FY21, revenue is expected to be in between $1.80 billion to $1.90 billion, with EBITDA margin of 31%.
* Bank of New Zealand Plans to Shut Down 38 Branches Bank of New Zealand (BNZ) has planned to close its 38 branches in the coming seven months. On Christmas Eve, eight branches are expected to closed including Pakuranga, Courtenay Place and Mt Maunganui; Between February and March, 14 branches are likely to close including St Heliers, Westport, Cromwell, and Waiheke.
* Vocus Group Plans to List its New Zealand Operation on NZX Vocus Group Limited (ASX:VOC) has appointed financial advisers to complete an IPO of Vocus New Zealand. The IPO is anticipated to be started before FY21, depending on the current market conditions. The IPO shall improve the company’s balance sheet and shall allow Vocus Network Services to participate in core long-term strategic fibre opportunities.