This business has now laid the foundations for tremendous...

This business has now laid the foundations for tremendous growth, all it needs now is SAMR and it will "BOOM".

In the short term we may see a DIP in the SP but during the next 6 - 12 months the SP will be heading towards $20.


HIGHLIGHTS:-
Continued gross margin expansion to 43.5% in FY19 (39.2% FY18) beyond functional product upgrades including the addition of DHA and GOS across formula range

Strong balance sheet and cash conversion that supports Bellamy’s growth agenda with $112.4m in net cash

Strong Q4 sales result following a deeper level of trade destocking in Q3 than first anticipated

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’. He continued ‘Our transformational rebrand demonstrated strong momentum through the Q4 period. The business enters FY20 with a clean balance sheet, positive consumer momentum and a healthy trade dynamic’.

Management retains confidence this registration will be achieved and is respectful of the SAMR process. Notwithstanding the timing of this registration, Bellamy’s addressable market and headroom for success within the e-commerce