A2 Milk isn’t the only one to tap into that demand. Fellow Kiwi Fonterra Cooperative Group Ltd, the world’s biggest dairy exporter, has done brisk business selling its products to China. Yet poor investments and shrinking margins pushed that company into a second year of losses.
It may have been the decade of smartphones, on-demand everything, and Instagram memes, but the prize for the world’s best performing stock in the MSCI World Index (2) goes to a dairy company in New Zealand.
How A2 Milk Co managed to punch its way to a 16,150% return, in US dollar terms, says a lot about global trends over the past 10 years. That growth now puts it at a market cap of US$7.4bil, a fraction of the US$144bil for Netflix Inc (which returned 4,000%) but well ahead of comparably sized iconic department store chain Macy’s Inc.
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