Blackmores revenue up 11% even with China sales down 11%
Australian largest complementary medicines company Blackmores has reported first half F19 revenue record of $319 million, up 11%, despite China sales dropping 11% in the same period. Even so the company estimated that with China-influenced sales through Australian retailers included, sales to Chinese consumers were up around 8% in total for the half year.
The company also reported strong growth across other Asian markets: Korea +67%, Taiwan +150%, Hong Kong +39%, Indonesia +72% and other Asian segment revenue up 34%pcp to $53 million.
Blackmores’ Bioceuticals brand leads the practitioner-only category with revenue up 7%.
Overall net profit for the half year was $34 million with profit up 268% in other Asian businesses EBIT.
See more in tomorrow’s Pharmacy Daily.