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Reuters
Reuters
Business

Bellamy's Australia swings to annual loss amid turnaround

(Reuters) - Bellamy's Australia Ltd <BAL.AX> on Friday reported an annual loss, against analysts' expectations of a net profit, as it booked writedowns and restructuring costs as part of an 18-month turnaround plan.

The infant-formula maker posted a net loss of A$809,000($640,000) for the year ended June 2017, compared with a profit of A$38.3 million last year.

The average forecast of three analysts polled by Thomson Reuters I/B/E/S was for profit of A$5.22 million.

($1 = 1.2665 Australian dollars)

(Reporting By Anusha Ravindranath in Bengaluru; Editing by Tom Westbrook and Stephen Coates)

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