with guidance that first-half 2022 sales would be down for both English and Chinese label formula. This was due to a2 Milk deliberately constraining product in an attempt to deal with its ageing inventory issues.
He did not provide firm sales or earnings guidance but noted that the improved outlook should result in higher gross profit than previously expected, but this will be offset by headwinds from higher costs of selling goods. Morgans analyst Belinda Moore said given the better than expected first half profit, full-year consensus is likely to be upgraded.
The chairman David Hearn is also now considered to be an independent director since Mr Hearn held executive options in prior years, which have now all been exercised and Mr Bortolussi has full executive control of a2 Milk.Health insurer NIB Holdings has delivered a 25 per cent increase in interim net profit to $81.4 million in the six months to December 31, declaring an increased 11¢ a share dividend up 10 per cent.premium revenue grew 8.
Mr Fitzgibbon said NIB’s travel and student insurance arms were starting to see benefits from the government’s move to reopen borders to international students and tourists.“Green shoots appear to be emerging, we’re welcoming the relaxation of some of the border restrictions,” Mr Fitzgibbon said. NIB said it aims to keep growing its policyholder numbers, with guidance for 3 per cent growth throughout the year versus the 1.3 per cent delivered in the six months to December 31.“We’ll pedal hard for the rest of the year both in terms of sales but also retention. It’s not in the bag, but that’s what we’re targeting, and we’re confident of reaching that target.”
The first half dividend was up 11.1 per cent to 40¢ per share, payable on March 23, and higher than the 36¢ paid a year ago. Earnings per share rose 22.6 per cent to $1.728.Chief executive Colin Goldschmidt said Sonic continued to help combat the pandemic by providing high-volume, high-quality PCR testing, antibody testing, genetic sequencing and vaccination services.
Base business revenue grew by 4.3 per cent from the year-earlier period, and by 2.5 per cent versus the first half of the 2020 pre-pandemic period.
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