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Bellamy’s Australia Ltd just shocked the market again

Credit: Bellamy's

The ongoing soap opera at Bellamy’s Australia Ltd (ASX: BAL) continued this afternoon after the company announced it now expects to post earnings before interest and tax for the six-month period ending June 30 2017 at the “upper end” of prior guidance between $9.5 million to $14 million.

The company also confirmed that it expects H2 2017 revenues to clock in at around $121 million, to bring full year revenues to around $239 million. This compares to full year revenues of $244 million posted in FY 2016.

The company also reported that it has been cashflow positive since March 2017 and was in a positive net cash position as at the end of the 2017 financial year. The stock has been suspended from trade since July 6 when the company shocked investors by revealing that Chinese authorities had suspended regulatory approval of its newly-acquired Camperdown manufacturing facility.

The stock is expected to return to trade on July 20 and investors can expect volatility.

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Motley Fool contributor Tom Richardson has no position in any stocks mentioned. The Motley Fool Australia has no position in any of the stocks mentioned. 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.

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