A2M 13.45%: caught a bid today thanks to a strong sales read through from Bubs (BUB). The infant formula company saw sales almost double in the 1st quarter with a strong 156% jump in sales to China compared to the first quarter of 2021. Sales into daigou channels were particularly strong, a market which has troubled A2 Milk recently in a sign the Australian milk products are regaining traction with the Chinese consumer. Bubs noted that COVID challenges were largely behind them and supply chains were starting to open up again. A2 Milk was the strongest performer in the ASX200 on the back of the news.
MM remains bullish and long A2M
Add To Hit List
