BAL day - aug 19th, page-73

The answers to questions of guidence can, I believe,be found here:

'Bellamy’s is strategically positioned to match supply to growth Commenting on Bellamy’s ability to meet demand for high quality, Australian made organic baby food and formula through its agile business model, Mrs McBain said: “The addition of the Fonterra manufacturing agreement – that will significantly lift volumes from FY17, – underpins our ability to service the growth in demand for Bellamy’s range of organic infant formula both domestically and internationally. We have carefully matched available manufacturing capacity with our ingredients and are very confident of our ability to continue to access global organic dairy ingredients and to grow ingredient availability with demand profiles. “Our commitment to Australian parents and babies remains unchanged. We will continue to deepen distribution both geographically and with new retailers in Australia so that Australian babies can get ready easy access to our range. Opportunities for further growth are focused on increasing our product ranging across retailers with the full product suite, and developing new accounts with smaller retailer and pharmacy groups. “At the same time, the China market continues to promise strong opportunities for focused, committed companies.'

My emphasis, but the main worry that Goldman Sachs had about this stock was not regarding the demand side, but rather, the supply side. Is there enough availability of ORGANIC raw materials to meet their increased production profile? I think Laura made the comment above, specifically for the GS boys