Vitamin-maker Blackmores posts 41% full-year profit drop
Sydney
AUSTRALIA'S top vitamin maker Blackmores Ltd reported a 41 per cent plunge in full-year profit on Tuesday, as exports to China failed to make up for a precipitous drop in demand from Chinese shoppers in Australia.
The result fell just short of market expectations and the company slashed its final dividend by a third, as efforts to switch its focus away from Chinese shopping agents, or "daigou", and chase direct exports instead, hurt sales.
BT is now on Telegram!
For daily updates on weekdays and specially selected content for the weekend. Subscribe to t.me/BizTimes
Consumer & Healthcare
South Korea to slap fines on food suppliers for ‘shrinkflation’
Olam outbids Dreyfus’ sweetened deal for Australia’s Namoi, raises offer to A$0.66 per share
Live Nation’s revenue beats estimates as boom in concerts drive ticket sales
Jim Beam owner bets on canned vodka cocktails to double revenue
Cutting the cord?: Events leading up to Cordlife’s MOH suspension and arrests of its directors, ex-group CEO
Cordlife served letter of demand, notice of claim from customers