Stocks Special Reports LICs Credit Funds ETFs Tools SMSFs
Video Archive Article Archive
News Stocks Special Reports Funds ETFs Features SMSFs Learn


Bellamy's shares soar as licence restored

Melissa Jenkins  |  09 Aug 2017Text size  Decrease  Increase  |  

Page 1 of 1

MELBOURNE - [AAP] Shares in infant formula maker Bellamy's Australia (ASX: BAL) have soared after Chinese authorities lifted a licence suspension on the company's recently acquired Camperdown canning facility.

The registration of the Camperdown Powder canning site in Victoria has been reinstated by the Certification and Accreditation Administration of the People's Republic of China (CNCA), Bellamy's said.

The company's shares were up 37 cents, or 4.7 per cent, at $8.25 at 1301 AEST, their highest so far in 2017.

Foreign suppliers of Chinese-labelled infant formula products in China must register the canning facility used to blend and pack the products with the CNCA.

Chinese authorities suspended registration of Bellamy's Camperdown canning facility in Victoria on July 7 after a third party's allegations relating to historical filing and records, and to certain previous quality issues, the company said.

Chief executive Andrew Cohen on Wednesday thanked Australian trade officials for their assistance as the company responded to CNCA requests.

"'Bellamy's appreciates the important role the CNCA has in protecting Chinese consumers and the support of the Australia trade officials in assisting us throughout this process," he said.


AAP logo image

© [2017] Australian Associated Press Pty Limited (AAP) or its Licensors. This is the Morningstar service with content provided by AAP where indicated. AAP reserves all rights, including copyright, in services provided by it. The information in the service is for personal use only, does not constitute financial product advice (whether general or personal) and may not be re-written, copied, re-sold or re-distributed, framed, linked or otherwise used whether for compensation of any kind or not, without the prior written permission of AAP. You should seek advice from a professional financial adviser before making decision to acquire or dispose of a financial product.

This service is published for general information purposes only without assuming a duty of care. AAP is not in the business of providing financial product advice (whether personal or general advice), and gives no warranty, guarantee or other representation about the accuracy of the information or images contained in this service. AAP is not liable for errors, omissions in, delays or interruptions to or cessation of the services through negligence or otherwise. The globe symbol and "AAP" are registered trademarks.