Pharmacy Daily | Blackmores sales on the up

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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