Bellammy’s has provided following updates:
- Early results in FY18 have been positive and consequently Bellamy’s is upgrading its FY18 guidance for its core business (excluding Camperdown) to a target of 15-20% revenue growth (from 5-10%); and 17-20% EBITDA margin (from 15-20%).
- Bellamy’s continues to expect 1H18 revenue to be higher than 2H18 revenue for the reasons noted in its announcement on 25 August 2017 including the impact of seasonality and a delay in CFDA registration resulting in all ‘Chinese label’ sales occurring in 1H18.
- This guidance excludes the Company’s Camperdown business which, as previously communicated to the market, is forecast to generate an EBITDA loss of $1m to $2m and is subject to contingent liabilities including the class actions and any amortisation of intangible assets arising as part of the Camperdown acquisition.
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