(Adds background on China, details) Aug 28 (Reuters) -...

(Adds background on China, details)

Aug 28 (Reuters) - Bellamy's Australia (BAL) on Wednesday reported a near 50% drop in annual profit as regulatory changes in China and more competition hurt the infant formula maker in its biggest growth market.

Bellamy's, which regards China as its top growth market, said it has boosted marketing in the country as Beijing cracks down on informal importers, so-called "daigou" shoppers who buy products from stores outside China and send them to the mainland.

Profit for the year ended June 30 came in at A$21.7 million ($14.7 million), compared with A$42.8 million a year ago.

The company said it had to cut down on inventory more than it had expected in the third quarter and took a one-off writedown of legacy label inventory, but it expects a return to growth in 2020.

Bellamy's said it was continuing the process to register its facility in Camperdown with China's State Administration for Market Regulation (SAMR).

Since the start of 2018, Beijing has said SAMR must approve sales of imported formula after lingering safety concerns about domestic product prompted a wave of imports. ($1 = 1.4806 Australian dollars)