a2 Milk beat forecasts in H1 2026, boosting full-year outlook amid strong Asian sales and product innovation.

a2 Milk reported strong first-half 2026 results, with net sales up 18.8% to NZD 992.6 million and underlying EBITDA rising nearly 26%, driven by growth in China and other Asian markets. The company raised its full-year revenue growth forecast to mid double-digit percentages and upgraded its net profit outlook, reaffirming its goal to reach NZD 2 billion in annual revenue by 2026, ahead of schedule. Strong performance in infant formula, liquid milk, and new product lines like a2 Genesis and Seniors fortified powders fueled growth, supported by increased marketing in China and improved operational efficiency. Despite broader demographic challenges, including declining birth rates in China, the company outpaced market trends, citing innovation and strategic investments. It declared an interim dividend of NZD 0.115 per share and saw its shares rise 9.8% on the news.