A2 Milk said it had made a positive start to the year, with first quarter sales expected to be marginally ahead of plan thanks to the weaker NZ dollar.
A2 Milk is due to start a $150 million share buyback next week.
"By way of a trading update prior to commencing the buyback, the company has made a positive start to the year, with first quarter sales expected to be marginally ahead of plan primarily reflecting the benefit of favourable foreign exchange driven by depreciation of the New Zealand dollar," it said.
"Due to the currency impact on cost of sales and cost of doing business, notwithstanding the benefit to sales, first quarter 2023 EBITDA is expected to be in line with plan," the company said.
The company said risks to its outlook included Covid-19 impacts on supply chain, product registration process timing, volume impact of price increases, foreign exchange movements, cross-border trade, changes in the regulatory environment, and commodity prices.