🧐 ProPicks AI October update is out now! See which stocks made the listPick Stocks with AI

UPDATE 1-Bellamy's revises revenue forecast upward, China registration still a challenge

Published 12/10/2017, 09:45 am
Updated 12/10/2017, 09:50 am
© Reuters.  UPDATE 1-Bellamy's revises revenue forecast upward, China registration still a challenge
BAL
-

(Adds China context)

Oct 12 (Reuters) - Australian infant formula maker Bellamy's Australia Ltd BAL.AX said on Thursday it expects its core business to post revenue growth of about 15 percent to 20 percent in fiscal 2018, an increase over previous guidance.

"Early results in FY18 have been positive and consequently Bellamy's is upgrading its FY18 guidance for its core business," the company said in a statement.

Bellamy's said its earlier guidance was for revenue growth of between 5 percent and 10 percent.

The guidance, however, excludes the company's newly acquired Camperdown operations, which until recently were suspended from shipping infant formula to China by Chinese regulators. said its China Food and Drug Administration registration would still pose a challenge to its proposed turnaround. ($1 = 1.2840 Australian dollars)

Latest comments

Risk Disclosure: Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.
© 2007-2024 - Fusion Media Limited. All Rights Reserved.