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Reuters

Business

New Zealand's a2 Milk raises FY revenue forecast, shares rise

(Reuters) - New Zealand's a2 Milk Company Ltd <ATM.NZ> on Friday said it raised its full-year group revenue forecast due to continued strong demand for its infant formula, sending its shares up more than 5 percent.

Group revenue is now forecast to be around NZ$545 million ($392.78 million) for the full year, an increase from the NZ$525 million it forecast in April, the company said in a statement.

a2 Milk shares were trading 5.3 percent higher at NZ$3.75 in mid-morning trade. The company said in April it was seeing unexpected high demand for its infant formula via Chinese e-commerce.

(Reporting by Sandhya Sampath in Bengaluru; editing by Jane Wardell and G Crosse)

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