Shares in alternative milk company a2 Milk have jumped almost four per cent on a strong earnings update at the AGM this morning.
The company said that in the four months to October net profit was $52.4 million - up 137.7 per cent on the same period last year.
In August, a2 Milk reported a $90.6 million net profit for the June year, up 198 per cent on the previous year's.
Chief executive Geoff Babidge told the annual meeting in Auckland that the company had made significant progress in the past decade.
The stock has been the star performer on the NZX so far year, at its peak hitting a record high of $8.75 on October 30, up $6.62 or 310 per cent since the start of the year.