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Keytone Dairy (ASX:KTD) reports 257pc increase on sales forecast from Walmart
Source: Dairy Reporter
  • Keytone Dairy (KTD) has received an increased sales forecast from Walmart China for the production of milk powder for Sam's Club West in 2021
  • Sam's Club is Walmart's membership-only store which has over 50 million global members and 599 stores in the U.S. and 23 in China
  • For the 2021 calendar year, Keytone reported a sales forecast of NZ$7.2 million (around A$6.6 million) and production will begin in December 2020
  • This represents a 257 per cent increase compared to the NZ$2.8 million (around A$2.59 million) in sales from the 12 months to September 2020
  • Keytone is up 2.27 per cent and shares are currently trading for 22.5 cents each

Keytone Dairy (KTD) has received an increased sales forecast from Walmart China for the production of milk powder for Sam's Club West in 2021.

Sam's Club is Walmart's membership-only store that was founded in 1983 and named after Walmart founder, Sam Walton.

The club has over 50 million global members and 599 stores in the U.S. and 23 in China.

For the 2021 calendar year, Keytone has a sales forecast of NZ$7.2 million (around A$6.6 million) and production will begin in December 2020.

This represents a 257 per cent increase compared to the NZ$2.8 million (around A$2.59 million) in sales from the 12 months to September 2020.

"We are continuing to build on our strategic partnerships with key clients and the results are outstanding," CEO Danny Rotman said.

"Sales have been well ahead of forecast for the period to date and we see further upside in the forecast provided for 2021 given the continued roll-out of Sam's Club megastores in China, the growing traction the products are receiving and the over performance against forecast to date," he added.

Keytone is up 2.27 per cent and shares are trading for 22.5 cents each at 11:50 am AEST.


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