Blackmores record profit
April 29, 2016
BLACKMORES yesterday released
its figures for the nine months to
31 Mar, with group profit for the
period surging 145% to $76 million.
The company said all businesses
and regions had delivered sales
growth, with total revenue of $532
million, up 63% on the previous
corresponding period.
Sales within Australia grew even
faster, up 71% to $369 million,
with Blackmores saying this was
influenced by Chinese consumers.
The company also highlighted its
continued support for community
pharmacy, accredited education
programs and new product
development.
Asia is also an increasingly
important part of the Blackmores
portfolio, with the company
estimating that Asian shoppers now
account for 50% of total revenue
for the group.
The recent regulatory changes in
China, which have caused a slide in
the Blackmores share price, were
said to be a “positive reflection
of the Chinese government’s
commitment to the free trade
zones,” while the changes also saw
additional ingredients approved
for in-market sales which were
seen as “a future opportunity for
Blackmores”.
The company said it would
host upcoming events in Sydney,
Melbourne and Shanghai next
month to help shareholders “better
understand this complex market
that is rich with opportunity”.
The results announcement also
confirmed a 24% lift in sales for the
Blackmores BioCeuticals division,
which was described as a key
platform for product leadership.
BioCeuticals has a strong pipeline
of new product development
“backed with recognised education
and research underpinning
performance,” the company said.
This division has also signed a
new agreement with a leading
distributor in the USA.
The Blackmores board reaffirmed
confidence in its strategy, along
with the ability “to deliver a strong
full year profit result and improved
returns for shareholders and staff”.
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