Business
Why the Blackmores (ASX:BKL) share price just hit a 52-week high
The Blackmores Limited (ASX: BKL) share price was on form again on Monday and continued its ascent.
The health supplements company’s shares climbed 2.5% to $87.32 at one stage to hit a 52-week high.
When the Blackmores share price hit that level, it meant it was up 31% over the last 12 months. However, it is worth noting that it is still down around 60% from its record high.
Why is the Blackmores share price at a 52-week high?
Investors have been buying Blackmores shares thanks to a major improvement in its performance after a couple of forgettable years.
For the six months ended 31 December, the company reported revenue of $302.6 million. This was a 3% increase on the prior corresponding period.
Management advised that this was…
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