ASX-listed infant formula maker Bellamy's shares plunge on profit warning, CEO exit

Wed, 11 Jan 2017

By Rebecca Howard Jan 11 (BusinessDesk) - Bellamy’s Australia shares took a nose dive after it cut its profit forecast for a second time, announced chief executive Laura McBain is leaving the company, and tweaked the terms of its supply contract with Fonterra Cooperative Group. The ASX-listed shares, which have been on a trading halt since Dec. 12, were trading down 34 percent at A$4.39 after the beleaguered dairy company said lower than expected demand for its baby formula has impacted its revenue and profitability, leading to increased...

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