Bellamy’s stocks rise

SHARES in infant formula supplier Bellamy’s Australia have soared after Chinese authorities lifted a licence suspension on a canning facility the group bought earlier this year.

Chinese regulators had suspended the import licence for goods from the Camperdown Powder canning site at Braeside, in Melbourne’s southeast.

Bellamy’s announced yesterday that the Certification and Accreditation Administration of the People’s Republic of China had now lifted that suspension.

Shares in the group rallied 4.1 per cent in the wake of the revelation, to close at $8.20 – their highest so far this year.

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

Bellamy’s chief Andrew Cohen yesterday thanked Australian trade officials for their assistance.