Business
Blackmores unstitches one of Christine Holgate’s acquisitions – The Australian Financial Review
The vitamins group is selling the Global Therapeutics business for $27 million to McPherson’s, four years after the former CEO bought it for $23 million.
The shares climbed 0.3 per cent to $63.57 in late trade on Tuesday after the sale announcement and Blackmores saying it expected to generate profit growth in 2020-21 despite continuing cost headaches from its acquisition of a tablet manufacturing plant in Melbourne. The company signalled that profit growth would come mainly in the second half of 2020-21.
Blackmores suffered a 66 per cent slide in net profit to $18.1 million in 2019-20 and did not pay a final dividend.
The company paid $23 million…
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