Blackmores profit down
February 28, 2014
Blackmores Limited has
reported $12.1m in net profit after
tax for the first half of the 2014
financial year, down 10.7% on the
year ago period.
In Australia, the company
reported sales of $106.8m, down
1%.
Blackmores said it did not report
on net profit after tax by segment.
Second quarter sales were up 6%,
with Earnings Before Interest and
Tax (EBIT) for the half at $17.1m,
down 13%, which Blackmores said
was due to increased raw material
costs from the depreciating
Australian dollar, and investment in
brand building activities.
Blackmores said its second
quarter had partially mitigated a
“disappointing” first quarter result,
with groups sales overall up 8%
from October to December, and
overall group sales up 3.2% to
$169.9m.
This first quarter saw Blackmores
report profit after tax of $5.4m,
down 31% from the previous
corresponding period.
Group sales overall were down
1% to $84m and Australian
retail sales were down 7%, with
Blackmores saying pricing pressure
had intensified, there had been
a slowdown in the category
and major discount pharmacy
continued to grow.
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