21/08/2023 17:23

A2 Milk (A2M) $4.27

A2M -13.56%: FY23 results out today for the milk products business were largely as expected, however, shares struggled on weaker guidance, falling to 12-month lows.

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07/06/2023 09:15

a2 Milk Co Ltd (A2M) $5.44

A2M enjoyed a rare return to the winner’s enclosure yesterday closing up +1.9% but it did surrender around 75% of its early morning gains following the news that its NZ-based manufacturing partner Synlait Milk had received approval from Chinese authorities to sell its China-label baby formula. Production should start later this month generating a solid boost for A2M’s earnings next FY.

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19/04/2023 09:21

A2 Milk Co Ltd (A2M) $5.90

We saw this dairy business endure a substantial hit to its earnings in 2020 as COVID caused an end to international travel which closed off its daigou Chinese sales channel. With Beijing now reopening its economy in earnest, following its failed COVID zero policy, and students being almost forced back to overseas study we look set to see a reopening of this daigou channel.

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20/02/2023 16:31

A2 Milk (A2M) $6.49

A2M -8.59%: the milk products company struggled today after disappointing outlook comments at their 1H result. Revenue of $783m was in line with expectations while Net Profit After Tax (NPAT) was around 5% below consensus, coming in at $74m vs $77m expected.

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20/12/2022 09:35

a2 Milk (A2M) $6.71

In August A2M Finally delivered some good news with a solid FY22 result plus an encouraging $150mn buyback, the stock has subsequently ground higher since. Sales are expected to be up by high single digits in FY23 and any improvement in Chinese trade may finally see some opening up of the previously huge Daigou on selling channels although it’s hard to imagine them getting close to previous levels - but a positive all the same.

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17/11/2022 09:33

A2 Milk Co Ltd (A2M) $6.01

Back in late August A2M finally delivered some good news for shareholders which sent the stock up +10% - they delivered a solid FY22 result and announced a NZ$150mn buyback plus stating that sales would be up high single digits in FY23, higher margins mean earnings will increase by more. The combination of better margins and a buy-back was enough to excite investors after the stock’s painful 2-year demise.

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30/08/2022 09:17

Are China facing stocks too cheap?

Goldman Sachs now sees a 50% chance of Chinese stocks exiting the US as political tensions continue to simmer with Taiwan the current focal point. However 6-months ago many had the transition as inevitable so some optimism has clearly returned that these superpowers can put aside their political differences at least in the financial arena. Chinese stocks listed in the US & Hong Kong have taken some encouragement over the last few days from this improved backdrop and coincidentally yesterday right on cue we saw some positive influence from China roll through the ASX.

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29/08/2022 17:10

A2 Milk (A2M) $5.40

A2M +9.98%:  Produced a solid FY22 results today, launched a NZ$150m buy-back and said that sales would be up high single digits in FY23, with higher margins meaning earnings will increase by more. All in NZ dollars, for FY22 they produced $1.44b in revenue ($1.39b Exp), EBITDA of $196.21m ($184.4m Exp) and profit of $122.62m ($113m Exp). The guidance...

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03/05/2022 14:37

Flagship Growth Portfolio – Amendments

MM are switching from A2M into TWE.

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20/04/2022 09:26

A2 Milk (A2M) $4.60

Rising COVID-19 cases in China and the administration’s focus on zero-tolerance are likely to be the final nails for our position in A2 Milk (A2M). While their last update in February was a positive one providing evidence that new management had a solid handle on the business, the turnaround discussed at the time underpinning a return to revenue growth in FY22 is now likely to be delayed, in MM’s view. While we can...

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