Blackmores sales on the up
October 21, 2010
BLACKMORES has reported a
13.1% increase in first quarter net
profit after tax, bringing the figure
to $7.8 million, compared to the
same period last year.
The impressive result, according
to Blackmores, is being attributed
in part to a high level of
promotional activity driven by some
of its major retailers in Australia, as
well as strong market growth
achieved by its subsidiaries in Asia.
“Considering the exceptional
sales from Thailand and Malaysia
in the first quarter of last year we
are particularly pleased to see even
further growth,” said Blackmores’
Chief Executive Officer, Christine
Holgate.
The first quarter also saw a
10.7% year-on-year increase in
group invoiced sales for
Blackmores, whilst regionally sales
were up by 11% in Australia and
9% in Asia (in Australian dollars).
“Considering the exceptional
sales from Thailand and Malaysia
in the first quarter of last year we
are particularly pleased to see even
further growth,” said Holgate.
During the period ending 30 Jun
the team at Blackmores also
launches a number of new
products, including the Everyday
Stress Formula and the Odourless
Fish Oil + Vitamin D3.
Overseas Blackmores launched
13 product lines, including its
Omega range of concentrated fish
oils in Hong Kong, and its Joint
Formula in Singapore.
Blackmores also added a new
wing to its operations during Q1,
Pure Animal Wellbeing, a natural
pet health product company.
“While PAW sales represent only
a small part of the first quarter
revenue, the business is now
integrated and on track to deliver
longer term growth,” said Holgate.
Meanwhile Blackmores
philanthropic credentials were also
given a boost in Q1, with the
Blackmores Sydney Running
Festival attracting a record 34,000
entrants, and raising in excess of
$2.2m for a selection of charities.
Moving forward Blackmores has
said that it expects to achieve
“modest profit” growth for the full year.
“Strong first quarter sales
exceeded our expectations and will
help counter the challenges we
anticipate during the year, including
the continuing strength of the
Australian dollar diluting sales from
Asia and some uncertainty in the
Australian retail environment,”
Holgate said.
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