Chinese demand drives a2 milk profit soaring
Massive growth in the Chinese appetite for a2 milk infant formula has seen the company's half-year profit jump by 290 percent - to $39.4 million.
The company says sales in China grew 348 percent, to $37.7m, as consumers started to understand the difference between A2 and A1 proteins in milk.
a2 Milk says the A2 protein is easier to digest than a1 which is found in most standard milk.
The company also reported healthy revenue growth in Australia, up 62 percent and is also establishing the brand in the UK and the USA.
If the current earning trends continue, the board of directors has advised the company will start paying a dividend by the end of the 2017 financial year.
a2 Milk shares started trading up almost 9 percent at $2.80 on the New Zealand stock exchange on Wednesday morning.