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6 months ago
Australia's Blackmores posts 41 pct half-year profit plunge
February 21, 2017 / 10:06 PM / 6 months ago

Australia's Blackmores posts 41 pct half-year profit plunge

SYDNEY, Feb 22 (Reuters) - Australian vitamin maker Blackmores Ltd said on Wednesday that first-half net profit fell 41 percent as demand from Chinese shoppers in Australia slumped.

Net profit fell to A$28.5 million ($21.9 million) for the six months to Dec. 31, tracking well behind an average forecast from seven analysts polled by Thomson Reuters I/B/E/S for full-year profit of A$75.8 million.

Blackmores had forecast falling profits in August, and posted a weak quarterly result in October, but delivered the modest improvement in the second quarter that the company had expected. The company announced an interim dividend of A$1.30, lower than A$2.00 a year ago. ($1 = 1.3033 Australian dollars) (Reporting by Tom Westbrook)

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