Halo has received a confirmed order for private label whole milk powder from a follow-on customer valued at approximately NZD7,100,000. The order is to be manufactured and dispatched over four months from April 2022 through to July 2022 and exported to China. The value of this order is based on the current spot price of whole milk powder and the order value may be higher or lower subject to the milk powder price at the time of manufacture.
Furthermore, Halo has received multiple orders for the manufacture of several new private label lines, including A2 milk powder in cans and pouches, A2 milk formulated children’s powder in cans and goat milk powder in cans. These orders total approximately NZD900,000 and while not material on an individual basis, highlight the capability and growing demand within Halo’s NZ operations for formulated powdered dairy products across multiple pack formats and Halo’s access to highly sought-after nutritional ingredients including A2 milk powder. These orders are to be manufactured at the Company’s New Zealand facilities across the next quarter.
Finally, under the Halo’s licensing agreement for premium Baileys™ non-alcoholic coffee flavoured ready-to-drink (“RTD”) products, ranging has continued to expand across major retailers throughout the North and South Island of New Zealand. Baileys™ RTDs are now stocked nationally in New Zealand in major grocery chain, Foodstuffs. Additionally, Countdown (New Zealand subsidiary of major Australian grocer Woolworths) has confirmed ranging of the Baileys™ RTD products nationally from July 2022. The sales of Baileys™ products across New Zealand are expected to be NZD1,500,000 for the next twelve months.