Today was the turn of management and shareholders of Bellamy’s Australia Ltd (ASX: BAL) to gather for the organic infant formula manufacturer’s annual general meeting.

Although the meeting didn’t provide any market moving bombshells, I believe management gave investors a few reminders about why this is one of the most exciting companies on the ASX.

The 2016 financial year was one that shareholders won’t forget. For the full year Bellamy’s delivered a stunning 326% increase in net profit after tax to $38.3 million.

A key driver of the incredible growth was a strong domestic performance which saw Australian revenues increase 67%. This was achieved through price increases, increased distribution, and a growing market share.

Even more impressive though was the 331% growth in China/Hong Kong revenues. Management pointed to an increase in brand awareness, growth in its e-commerce business, and growth in reseller customer activations as being the key reasons behind the rise.

Moving forward the company looks to be in a strong position for growth. The company’s increased marketing spend has been very effective. Bellamy’s is now the number one infant nutrition brand in the Australian marketplace online.

Not only does the brand have the strongest presence on Google, but it also has the highest level of social engagement on Facebook, Instagram, and Twitter according to data provided in the AGM presentation.

One thing that I like in particular about Bellamy’s is that it is well prepared for any growth in demand. Supply agreements with FONTERRA UNIT NZX (ASX: FSF) and Tatura mean that the company’s potential capacity across all its sites is far greater than current utilised capacity.

Which is great news because management estimates that there’s still an opportunity to further penetrate the Australian market. According to the presentation management believes it has only covered approximately two-thirds of available distribution points in the Australian market.

And then there’s the China market. China is of course the big opportunity and Bellamy’s is working towards long-term growth in the country through its multi-channel distribution online and offline. It already has a top-10 presence on Tmall, and is aiming to capture more online sales via other platforms such as JD, VIP, and BabyTree.

In light of this I believe the company is setting itself up well for long-term growth and expect that an investment today would prove to be a great one. At just 17x FY 2017’s estimated earnings there are few shares on the market at this price with so much long-term earnings growth potential.

Out of Bellamy’s, a2 Milk Company Ltd (Australia) (ASX: A2M), Blackmores Limited (ASX: BKL), and Bega Cheese Ltd (ASX: BGA), Bellamy’s would be the one I’d tip to perform best in FY 2017.

If you need to make space in your portfolio for Bellamy's I would highly recommend removing these wealth destroying ASX shares. Each could be harming your portfolio right now and it might be best saying goodbye to them if you ask me.

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Motley Fool contributor James Mickleboro has no position in any stocks mentioned. The Motley Fool Australia owns shares of Bellamy's Australia. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Bruce Jackson.