Bellamy’s Australia is eyeing further expansion in Asia after reporting a 141 per cent lift in revenue to $58.3 million for the six months ended December 31.
The organic baby food producer’s earnings before interest and tax grew 118 per cent to $4.4 million and net profit rose 137 per cent to $3.2 million.
Laura McBain, MD and CEO of Bellamy’s, said the company’s first half result reflected a growing business that was delivering operationally.
“Our objective is to continue growing both our domestic and export businesses through a focus on expanding our distribution networks, and this has clearly been achieved over the past six months,” McBain said.
McBain said the company had consolidated its position with major retailers in the Australian market while at the same time extended its reach in Australia through distribution into pharmacies and independently-owned stores.
Bellamy’s organic formula and food range was launched in 160 Target stores nationally during the first half of the current financial year, and Bellamy’s products are also now available in 450 Amcal, AmcalMax, and Guardian stores. It has also launched new product initiatives over the past six months including the baby food pouch range which is stocked at Costco and Big W.
McBain said the company’s overseas growth was also continuing to gain momentum, particularly in China, where it has expanded into major supermarkets and launched its organic formula range in 160 Walmart stores in Guangdong.
Commenting on the company’s outlook, McBain said innovation and distribution is at the centre of its growth strategy, identifying China and South East Asia as key markets for further growth.
“We are excited about what the second half of this financial year holds for the business, and we continue to trade strongly. Recognising that December is a key trading month, and providing trading conditions remain the same, Bellamy’s second half results should be consistent with its first half results.”
Bellamy’s has also appointed former Billabong MD and CEO, Laura Inman, to its board of directors. Prior to Billabong Inman was MD of Target Australia from 2005 to 2011 and was also MD of Officeworks from 2004 to 2005. Bellamy’s said Inman’s appointment was in response to the “needs of the business’ growth plans”.
