King Island rescue
OPINION: Two Australian cheesemakers have rescued the iconic Tasmanian cheese company King Island Dairy.
In its half-year results last month, A2 says the half year was characterised by higher GDT market pricing, plus higher milk volumes processed through the MVM site. As a result, revenue of $57.4 million was $13.9 million higher than prior year, with EBITDA losses improving to $11.9 million (1H24: $15.3 million).
The company continues to work on a range of initiatives to accelerate MVM's path to profitability, which remains a key priority.
A2 Milk bought the 75% interest in MVM from China Animal Husbandry Group (CAHG), which retains a 25% stake in MVM.
