Blackmores Announces Regarding Acquisition of Manufacturing Facility, Provides Third Quarter Results and New Non-Executive Director

Blackmores Limited announced profit for the first nine months of $52 million, up 19.3% compared to the prior corresponding period, on net sales of $434 million, up 8.5% on the prior corresponding period.

“We made solid market share gains in Australia over the last quarter and remain the clear number one brand in Australia in both total market and domestic sales,” said Richard Henfrey, Blackmores Chief Executive Officer. “This was a solid result notwithstanding the impact of supply challenges over the period.”

“Blackmores has a strong commitment to Australian and New Zealand manufacturing, and recent structural changes in the sector have affected the supply continuity of many of our smaller lines and brands as well as export sales in the second and third quarters,” said Richard Henfrey. “We finished the quarter in a much better supply position and we expect this to continue to improve in the coming months.”

Strong advertising and promotional activity in the quarter supported sales in Australia which remain broadly in line with last year for the nine months to 31 March.

“Blackmores sales in China at $102 million for the nine months were up 21% compared to the prior corresponding period. China sales in the third quarter were below our expectations mainly as a result of the impact of supply challenges and some disruption due to customer trading term re-negotiations, with a stronger fourth quarter expected,” said Richard Henfrey.

Blackmores’ established businesses in other markets in Asia experienced growth of 20% in constant currency terms compared to the prior corresponding period. Indonesia, Korea, Taiwan and Hong Kong continue to deliver particularly strong growth.

BioCeuticals Group net sales at $79 million were up 11% compared to the prior corresponding period and will further benefit from the recent extended distribution of IsoWhey products into new sales channels.

“The cost benefits resulting from last year’s full supplier review are continuing to deliver and will positively impact our margins this year,” said Richard Henfrey. “The acquisition of Catalent Australia will support further efficiencies in the future.”

During the quarter, BioCeuticals partnered with the Blackmore Foundation, the personal philanthropic trust of Marcus and Caroline Blackmore and the Jacka Foundation, to provide $1.5 million in funding for the Australian Research Centre in Complementary and Integrative Medicine at the University of Technology Sydney (UTS:ARCCIM), a scientific research program that aims to improve understanding into the ways health consumers and practitioners use naturopathy and other complementary medicines.

The announcement was made by BioCeuticals’ newly appointed Managing Director, Eyal Wolstin. Eyal brings extensive experience in the complementary health industry. As sales director, he has successfully led the growth of BioCeuticals for four years and has been the acting Managing Director since November 2017.


The advice given by Kalkine Pty Ltd and provided on this website is general information only and it does not take into account your investment objectives, financial situation or needs. You should therefore consider whether the advice is appropriate to your investment objectives, financial situation and needs before acting upon it. You should seek advice from a financial adviser, stockbroker or other professional (including taxation and legal advice) as necessary before acting on any advice. Not all investments are appropriate for all people. and associated websites are published by Kalkine Pty Ltd ABN 34 154 808 312 (Australian Financial Services License Number 425376). The information on this website has been prepared from a wide variety of sources, which Kalkine Pty Ltd, to the best of its knowledge and belief, considers accurate. You should make your own enquiries about any investments and we strongly suggest you seek advice before acting upon any recommendation. Kalkine Pty Ltd has made every effort to ensure the reliability of information contained in its newsletters and websites. All information represents our views at the date of publication and may change without notice. To the extent permitted by law, Kalkine Pty Ltd excludes all liability for any loss or damage arising from the use of this website and any information published (including any indirect or consequential loss, any data loss or data corruption). If the law prohibits this exclusion, Kalkine Pty Ltd hereby limits its liability, to the extent permitted by law to the resupply of services. There may be a product disclosure statement or other offer document for the securities and financial products we write about in Kalkine Reports. You should obtain a copy of the product disclosure statement or offer document before making any decision about whether to acquire the security or product. The link to our Terms & Conditions has been provided please go through them and also have a read of the Financial Services Guide. On the date of publishing this report (mentioned on the website), employees and/or associates of Kalkine Pty Ltd do not hold positions in any of the stocks covered on the website. These stocks can change any time and readers of the reports should not consider these stocks as advice or recommendations.

Leave a Reply

Fill in your details below or click an icon to log in: Logo

You are commenting using your account. Log Out /  Change )

Google photo

You are commenting using your Google account. Log Out /  Change )

Twitter picture

You are commenting using your Twitter account. Log Out /  Change )

Facebook photo

You are commenting using your Facebook account. Log Out /  Change )

Connecting to %s