- Halo Food’s (HLF) New Zealand branch of business is expanding as it increases orders and distribution of its products
- The company received an order totalling NZD$7.1 million (A$6.65 million) for a private label whole milk powder from a follow-on customer in China
- Halo has also received multiple orders to manufacture several new private label lines, totalling NZD$900,000 (A$843,000)
- HLF expected sales from its Baileys ready-to-drink products to reach NZD$1.5 million over the next year, as it increases distribution
- Shares are trading 5.19 per cent higher today at 8.1 cents each
Halo Food’s (HLF) New Zealand branch of business is expanding as it increases orders and distribution of its products.
The company received an order totalling NZD$7.1 million (A$6.65 million) for a private label whole milk powder from a follow-on customer in China.
This figure was based on the current spot price of whole milk powder and may vary depending on the movement in price at the time of manufacture.
It will be manufactured over a period of four months from April before being exported to China.
Halo has also received multiple orders to manufacture several new private-label lines, totalling NZD$900,000 (A$843,000).
This includes A2 milk powder in cans and pouches, A2 milk formulated children’s powder in cans and goat milk powder in cans.
These products will be manufactured at the company’s New Zealand facilities over the next quarter.
The company said these orders highlight the growing demand within the company’s New Zealand operations for formulated powdered dairy products across multiple pack formats.
The company’s Baileys non-alcoholic coffee flavoured ready-to-drink (RTD) products have expanded to major retailers across the country.
The sales from the RTD products are expected to be NZD$1.5 million (A$1.4 million) over the next year.
Shares were trading 5.19 per cent higher today at 8.1 cents each at 12:45 am AEDT.