THE relaxation of COVID-19 restrictions combined with increased numbers of cold and influenza cases in Australia have helped supplement giant, Blackmores, record underlying earnings before interest and taxes (EBIT) of $43.1 million in the domestic market.
Reporting its results for the financial year to 30 Jun, the company noted sales in the first half of the year were stymied by COVID-19 and the flow-on effects of lockdowns and reduced international student and visitor numbers.
"[However], despite some impact of the floods in Queensland and NSW, sales recovered in the second half as consumers gained more confidence to enter retail post-lockdown, cold and flu cases increased and Blackmores increased investments in advertising and promotional campaigns to pre-pandemic levels," the company said.
Blackmores' direct cross border e-commerce channel played a key role in delivering a 10.6% increase in revenue from the Chinese market, despite lockdowns in a number of key cities.
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