August 14, 2019 / 11:02 PM / in 6 days

Australia's Blackmores profit misses on weak sales, tough China regulations

Aug 15 (Reuters) - Australian vitamin maker Blackmores Ltd’s annual profit fell 23.6% and missed analysts’ estimates on Thursday, hurt by decline in sales and tough e-commerce regulations in China, its largest offshore market. Net profit attributable for the year ended June 30 fell to A$53.5 million ($36.12 million) compared with A$70 million a year earlier. An average of nine analysts expected profit of A$59.9 million, according to IBES data from Refinitiv.

The 87-year-old firm declared a final dividend of 70 Australian cents per share, down from 155 cents last year. ($1 = 1.4813 Australian dollars) (Reporting by Shriya Ramakrishnan and Niyati Shetty in Bengaluru; Editing by Arun Koyyur)

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