A2 revenue climbs

A2 Milk Co said group revenue accelerated a little in its third quarter, with sales for the nine months through March 31 being up 42 per cent. However, it said second-half sales should be broadly in line with the first as it pumps money into marketing and building organisational capacity. Group revenue was $938m, reflecting continued sales growth in nutritional products and liquid milk, it said in an investor presentation. In New Zealand and Australia, its market share for a2 branded fresh milk was around 11 per cent as of March 24, up from 10.8 per cent in December, according to rolling 12-month data from the Aztec Australian Grocery Weighted Scan. Its A2 Platinum infant formula value market share lifted to 36.8 per cent from 35.7 per cent in the same period. A2 Milk said the Kantar market tracking of large Chinese cities showed its infant formula consumption value share increased to 6 per cent as of March, up from 5.4 per cent in December. Distribution in the United States lifted from 12,400 stores in January to 12,700 stores in March.