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Shares in Australia's Bellamy's fall as much as 42 percent
January 11, 2017 / 2:31 AM / 9 months ago

Shares in Australia's Bellamy's fall as much as 42 percent

SYDNEY, Jan 11 (Reuters) - Shares in infant formula maker Bellamy’s Australia Ltd fell as much as 42 percent on Wednesday after company said revenue will fall and its chief executive will leave effective immediately.

The company said on Wednesday revenue for 2017 is expected to be between A$220 million ($162.07 million) to A$240 million. In December it said it expected 2017 revenue of about A$240 million.

Bellamy’s said Chief Executive Laura McBain will leave the business, temporarily replaced by Chief Operating Officer Andrew Cohen. ($1 = 1.3574 Australian dollars) (Reporting by Colin Packham)

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