The share price of market-favourite Bellamy's Australia Ltd (ASX: BAL) has climbed higher again today. The shares are currently trading for $14.39, up 4.8% compared to yesterday's closing price, but rose to a fresh all-time high of $14.65 earlier in the session.
Indeed, setting new 52-week highs has become something of a common occurrence for Bellamy's over the course of 2015. The shares have skyrocketed since the beginning of January, rising 772% in that time, and have more than doubled in price since mid-October.
Bellamy's is an Australian producer of 100% certified organic food and formula products for babies and toddlers. It is one of the many companies benefiting from the skyrocketing demand for infant formula around the world, particularly in China where residents are hesitant to trust the quality or safety standards of food products produced in that country.
The company has struggled to keep up with the demand thus far but has signed two separate manufacturing agreements with Tatura Milk Industries Ltd, a wholly owned subsidiary of Bega Cheese Ltd (ASX: BGA), as well as FONTERRA ORD UNIT (ASX: FSF) even more recently. This should help to alleviate some of that pressure in the future.
Bellamy's shares are by no means cheap today, but the market expects strong earnings growth when the company reports its half-year results in February and in the years to come.