Bellamy's upgrades again
Bellamy's Australia (BAL) has issued its third profit upgrade this financial year. It continues to benefit from a parent's preference to feed their child organic infant formula and baby food from a strong and trusted brand… On the back of upgraded guidance, we have increased our NPAT forecasts by 21.1% (FY15), 26.5% (FY16) and 24.1% (FY17). Our new FY15 underlying NPAT forecast of A$8.5m represents 352% growth on the previous corresponding period. We believe that BAL is well placed to report strong double digit growth for many years to come as consumers increasingly demand organic food and beverages, it launches new products and expands its distribution network both in Australia and overseas. More detail on the Morgans blog: (VIEW LINK) or watch the video below from Senior Analyst Belinda Moore
Morgans is Australia's largest national full-service retail stockbroking and wealth management network with over 240,000 client accounts, 500 authorised representatives and 950 employees operating from offices in all states and territories.