Healthy Skepticism Library item: 8655
Warning: This library includes all items relevant to health product marketing that we are aware of regardless of quality. Often we do not agree with all or part of the contents.
Publication type: news
Blackmores sees 10% rise in FY profit
Sydney Morning Herald 2007 Feb 23
http://www.smh.com.au/news/Business/Blackmores-sees-10-rise-in-FY-profit/2007/02/23/1171734001510.html
Full text:
Vitamins and herbal supplements company Blackmores Ltd expects sales and profit to rise by 10 per cent this year, after posting a record first half result.
Blackmores’ net profit lifted by 37 per cent to $10.19 million in the first half, as sales rose 16.2 per cent to $84.4 million.
Its Australian sales increased by 14.5 per cent in the six months to December 31, 2006, led by a strong performance in its pharmacy channel.
Blackmores International sales rose by 23.5 per cent, with the company saying Malaysia and New Zealand experienced outstanding growth.
It said its Thai business remained strong, although the company remained cautious about Thailand’s full year performance due to political and economic uncertainty.
Blackmores said it was enthusiastic about its prospects in Taiwan, saying that country presented a significant opportunity given growing sales in nutritional products.
Blackmores, which booked a $14.5 million net profit in 2005/06 and a $13.6 million net profit before one-off items, said it expected to produce a record result for the 2006/07 year.
“Blackmores’ management are confident of producing another record year with sales and profit on target to achieve growth in the order of 10 per cent,” it said.
“Shareholders should note that profit levels are weighted towards the first half, mainly due to a heavier expenditure weighting being applied to marketing and promotional activities throughout the balance of the financial year.”
Blackmores declared an interim dividend of 35 cents per share, fully franked, up from 27 cents previously.
