Analysts Briefing
Sydney, April 28, 2016 AEST (ABN Newswire) - Blackmores Limited (
ASX:BKL) Third Quarter Financial Results to the Nine months ended 31 March 2016
Record 9 Months- Delivering Group Profit up 145%
- Strong sales performance across the Group with all businesses and regions delivering sales growth
- Group Sales $532 million, up 63%
- Our 10th consecutive quarter of year on year growth
- Growth is from all businesses and regions across the Group
- Excluding impact of Chinese consumers, Asia in-market direct sales up 11% and Group revenue up 14%
- Further operating leverage delivered EBIT of $110m, up 134% & improved EBIT margin to 21%
- Record NPAT of $76 million, up 145% YOY
Blackmores Australia
Australia delivering strong profitable growth
- Australia Sales up 71% to $369m
- Chinese consumers influencing Australian retail, underlying double digit growth
- Continued support for community pharmacy, accredited education programs and new product development
- NZ & Pure Animal Wellbeing both experiencing strong growth, combined sales up 40% at $16m including PAW launch in Japan
Blackmores Asia - strong & increasingly important
- Asia in-market sales of $98 million for the period, up 64%
- Asian shoppers estimated to account for 50% of Group revenue
- Established markets continue to perform well
- Now in 15 countries and all regions growing
- Blackmores event in China for Heart Ali charity supported by Chinese actress Fan Bing Bing and Mrs Lucy Turnbull AO
Doing Business in China
- Recently announced regulatory changes on Chinese cross border e-commerce are a positive reflection of the Chinese government's commitment to the free trade zones
- Additional ingredients approved for in-market sales are a future opportunity for Blackmores
- Regulatory evolution is a characteristic of this market and we have a highly experienced local team and numerous channels to reach the Chinese consumer
- Blackmores will host shareholder events in three locations (Sydney, Shanghai & Melbourne) in May so shareholders can better understand this complex market that is rich with opportunity
BioCeuticals - an important platform for Product Leadership
- BioCeuticals continues strong third quarter performance:
- YTD sales of $50m, up 24%
- Strong pipeline of new product development, backed with recognised education and research underpinning performance
- New agreement with leading distributor in the United States
- Clear market leadership affirmed
Operational Effectiveness delivers further benefits
- Record production output to support growth and further investment in building capacity and inventory levels
- Forged stronger supplier partnerships to ensure access to quality ingredients
- Improved efficiency of operational facilities has partially off-set impact of increased raw ingredient prices and currency volatility
- Continued focus on efficient management of cash whilst paying healthy dividends and further investing in growth
Outlook
- Continued focus on delivery of strategic priorities
- Board maintains its confidence in our strategy and ability to deliver a strong full year profit result and improved returns for shareholders and staff.
To view the analysts briefing, please visit:
http://abnnewswire.net/lnk/O3I23089
About Blackmores Limited
Blackmores Limited (ASX:BKL) (OTCMKTS:BLMMF) is Australia's leading natural health brand. Its quality range of vitamin, minerals, herbal and nutritional supplements, and continued support of the community and environment, are among the many reasons Blackmores is the most trusted name in natural health.
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