Bellamy's Australia appoints John Ho to board, confirms Andrew Cohen as CEO
- Infant formula distributor Bellamy's Australia has welcomed a representative from its new substantial shareholder, Hong Kong-based Janchor Partners, to the board.
- Acting chief executive Andrew Cohen will stay in the role permanently.
- Shares in Bellamy's had lost 0.5 per cent to $4.43 at 11:15am on Thursday. The stock has struggled to trade significantly higher than a 12-month low of $3.78 hit in January and is well below a 12-month high of $14.99 hit last August.
AUSVEG calls on government on 457 visa reforms
- AUSVEG said the government must ensure that rural and regional industries are not damaged by the reforms.
- It came after the Turnbull Government’s announced its plan to scrap the 457 skilled migration visa. It will be replaced with a new multi-stream temporary visa.
- “If Australia’s skilled migration system is going to be changed, then we need to recognise the critical role that skilled foreign workers play in regional industries, including the vegetable and broader horticulture industries,” said AUSVEG CEO James Whiteside.
Online grocery market set for massive growth
- A new report from Nielsen predicts the online grocery market will reach $2 billion in Australia in the next five years, as young families increasingly go online to stock up on pantry staples and pet and baby products.
- But even while twenty per cent of Australians have purchased online groceries in the past year, the market still represents a tiny fraction (just 2 per cent) of overall grocery sales.
Coca-Cola Amatil flags profit weakness
- Shares in Coca-Cola Amatil have slid nearly 10 per cent after the soft drinks maker flagged a surprise profit warning, following weak trading at its Australian beverages business.
- The group now expects underlying net profit to decline in the first half of 2017, while full-year underlying profit is expected to be flat.
- Coca-Cola Amatil shares reacted to the news, with the stocks down 99 cents, or 9.3 per cent, at $9.75 by 1110 AEST. The company has struggled to face a changing and increasingly competitive Australian marketplace, and in February booked a 37.4 per cent slump in annual net profit for 2016 to $246.1 million.
Aussies first to taste new M&M’S Block Chocolate range
- The famous M&M’S Red and M&M’S Yellow characters and their playful friends are set to be moulded into chocolate history, as Australians become the first in the world to taste the new M&M’S Block chocolate range.
- This year’s “most exciting innovation in chocolate” will combine M&M’S with smooth milk chocolate crafted from the finest ingredients, in six varieties – Milk, Almond, Hazelnut, Crispy, Crispy Mint and Strawberry.
- The launch of the new M&M’S Block range is said to be one of the biggest the category has ever seen, with a national integrated campaign featuring television, digital, social and outdoor advertising, as well as a range of in-store activations to engage Australians. The new range will be available in all major supermarkets and convenience stores from Monday 24 April.