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Food and beverage stories

Bellamy’s back in black

Tasmanian based baby food and formula company, Bellamy’s, has put the tough times behind, and is reporting healthy profits. The Launceston based company reported a net after-tax profit of $42.8 million for 2017-18. Revenue also jumped by 37 per cent to $329 million. This represents a major turnaround from the $800,000 loss the company had recorded for the previous financial year, and a previous share price crash. Bellamy’s Chief Executive, Andrew Cohen told The Advocate: “…the Bellamy’s turnaround plan continues to demonstrate results in terms of revenue growth, profitability, cashflow and the balance sheet…Beyond the numbers, the business has transformed over the period in terms of process and disciplines, but, more importantly, in terms of culture and capability.” He adds, growth is focused on selling organic infant nutrition into China and wider Asia.

12 September 2018, Edition 198

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