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Bellamy’s shares plunge 41pc

Bellamy’s shares have dropped dramatically as the infant formula maker deals with slow sales in China.

AAP reports that Bellamy’s shares were down $4.98 – a 41 per cent fall – at $7.15 at 1041 AEDT. The company also warned that revenue for 2016/17 may be lower than last year’s result.

The company was expecting sales on Single’s Day, the Chinese online shopping event, to be higher than they were.

Combined with regulatory changes in China, this may see revenue drop from Last year’s $244.6 million to less than $240 million.

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