Bellamy’s Organic says it is ready for any changes to China’s regulation of infant formula.
As part of its financial report for the six months ending the 31 December 2015, the Australian ]food and drink company, which markets products primarily for young children, said it is aware of potential changes to the regulatory environment in China for cross border transactions. Bellamy’s Organic however said it was well-positioned to respond to any changes.
The confidence comes after Bellamy’s Organic last week confirmed strong Chinese demand for its products contributed to a record net profit of AUD$13.6 million for the six-month financial period ended 31 December 2015. This was a 325 per cent increase on the same period in 2014.
China is however in the process of tightening restrictions around infant formula sold within the country. This includes a new law expected to come into effect soon which limits infant formula manufacturers to three brands each.
Bellamy’s Organic currently sells its products through both retail stores and online stores in China. Online it is sold through the popular shopping websites T-mall and JD.com
The company also sells its products in other parts of Asia including Singapore, Hong Kong, Vietnam and Malaysia.
