AUSTRALIAN vitamins and supplements brand, Blackmores, has announced a 19% decline in its underlying net profit after tax for the 2019 financial year, $55 million.
In a statement to the ASX, the company revealed its full year revenue climbed 1% to $610 million, with changes to Chinese e-commerce laws negatively impacting sales (down 15% on 2018).
However, the company's in-country business recorded strong growth, with sales up 22%.
Within the Australian market, Blackmores retained its status as the number one supplement brand with 15.9% market share, with sales of $267 million in Australian and New Zealand.
The company also announced total dividends for the year at $2.20 per share, fully franked.
Blackmores is expecting to gain operational efficiencies in H2 FY2020, as a result of business improvement initiatives.
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