Bellamy’s Australia Limited runs on ASX after achieving FY18 guidance

Bellamys

Bellamy’s (ASX: BAL) today announced full year results for the period ended 30 June 2018, posting 37% increase in sales and 65% growth in normalized EBITDA for FY18.

Revenue has increased from $240.2 million in FY17 to $320.0 million in fiscal 2018 excluding $8.7 million contribution from Camperdown. This strong revenue growth is directly attributable to larger volume with 48% increase in Australian label. However, the sales got impacted in second half of 2018 due to no sales of Chinese-label formula products resulting from delay in SAMR registration.

Despite facing tough market conditions, the company achieved $42.8 million of net profit after tax, compared to $0.8 million net loss reported last year. Gross Margin improved 5.8% points versus 2H17 to 42.5% in 2H18.

There has been significant increase in brand, product and marketing investment over last one year, while Bellamy’s Camperdown manufacturing business achieved breakeven in second half of 2018.

No dividend is paid or payable for the year ended 30 June 2018. Cash at 30 June 2018 was $87.6 million.

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Bellamy’s stock continues to rise with daily percentage price change of 6.828% to trade at $11.890 on 29 August 2018 (3:12 PM AEST).

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