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Blackmores registers strong growth, momentum expected to continue

(Source: Blackmores/Facebook)

Health supplements company Blackmores has registered strong growth across its brands in all markets despite ongoing supply chain interruptions.

For the year ended June 30, group revenue rose 12.8 per cent to $649.5 million while underlying tax-paid profit improved 22 per cent to $31.1 million. Compared to the prior period, underlying EBIT grew 19 per cent to $56.6 million.

In Australia and New Zealand, revenue rose 2.7 per cent to $288.2 million with BioCeutivcals and Paw brands performing well and resonating strongly in the market.

The company said its sales rebounded in the second half as consumers regained confidence in retail as cold and flu cases surged through the country.

Sales in China rose 10.6 per cent to $145.6 million despite Covid-related lockdowns in several key cities. The company credits its Direct Cross Border E-commerce (CBEC) channels for this growth under “challenging circumstances”.

Blackmores’ international business registered a 31.7 per cent uplift in revenue backed by increased brand awareness, distribution expansion, new product launches and continued on-shelf availability of products.

Group CEO, Alistair Symington, said the business’ medium-term trajectory remains strong despite current macroeconomic conditions.

“Blackmores has remained disciplined and focussed on delivering our strategic objectives which has strengthened our competitive position to meet the current economic challenges and capitalise on the significant growth opportunity in our core markets and set us up for future growth across our business.”

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