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.