Baby food company Bellamy's see huge decline in profits

Company News

by Rachael Jones

Organic baby food company Bellamy's (ASX:BAL) report a substantial decline in profits - 49.3 per cent loss to $21.7 million from last year's $42.8 million.

The period was impacted by regulation, a lower birth rate and increased competition for Chinese demand.

Net revenue is down 19 per cent on last year to $266 million.

Commenting on the FY19 results, Bellamy’s CEO Andrew Cohen said ‘While FY19 has been a challenging year, and the impact of regulation has been difficult, the changes made during the past year have set a new foundation for the long-term success of our brand.

Transformational rebrand is set to return the business to growth and is gaining momentum since March launch. 

Shares in Bellamy's (ASX:BAL) trading 3.5 per cent lower at $7.77.

Rachael Jones

Finance News Network
Rachael comes to FNN after working for Fairfax Media covering international breaking news, including the global economy and politics. She joined FNN in February 2018. She has reported on Australia’s finance news for various organisations since 2000 and has also interviewed a number of key business players, including Bill Gates. Rachael has also worked across a number of countries, including the UK and the US.