Business
What we learnt: Blackmores’ self-help won’t recapture past glory – The Australian Financial Review
It’s only four years since Blackmores was a darling of the ASX. Now it’s firmly in turnaround mode.
While revenue for the 12 months to June 30 fell just 3 per cent to $568 million, net profit slumped 66 per cent to $18.1 million.
But that doesnt tell the full story. The June half saw Blackmores swing from a profit of $17.9 million to a loss of $1.4 million – and thats despite the pandemic creating a spike in Blackmores’ products that boost your immune system.
COVID-19 hit sales in the key China market, which flowed through to Australian sales, with daigou shoppers (who buy in Australia to se…
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