Shares in New Zealand dairy firm - The a2 Milk Company (A2) - were up more than 30% in Sydney on Friday after the firm raised its full-year earnings forecast on demand for its infant formula in China and Australia. It is the second time since November the company has raised its guidance.A2 said group revenue could reach US$ 212 million for the period, up from US$180.
Chinese conglomerate Shanghai Pengxin Group has been on a buying spree ever since it entered New Zealand in 2011. The food giant has bought 29 farms through local subsidiaries to become the country's third largest dairy producer.