Blackmores expects a record full year profit, partly on the back of expanding business in Asia, after posting a 75.8% rise in profit to $31 million for the nine months to the end of March.
The result for the vitamin maker and natural health brand was on a 28% rise in sales revenue to $326 million.
CEO Christine Holgate says there’s strong momentum in the business including a vibrant presence in Asia.
“Shareholders can expect the current year to date growth to continue and deliver a record full year profit for the Blackmores group,” she says.
Sales in Asia are up 43% in the third quarter compared to the same period last year driven by strong performances from Malaysia, Singapore, China, Hong Kong and Korea. Thailand faced market challenges.
“The growing demand for Blackmores’ high quality premium Australian products is reflected in our
sales results,” says Holgate.
Influential Chinese tennis legend Li Na has been contracted as a Blackmores ambassador to work on health and nutritional initiatives in Mainland China.