ABN Newswire http://www.abnnewswire.net Sat, 1 Oct 2016 13:21:29 newsroom@abnnewswire.net newsroom@abnnewswire.net 60 <![CDATA[ Blackmores Limited (ASX:BKL) Analysts Briefing ]]> en84591 Y http://www.abnnewswire.net/press/en/84591/ Wed, 24 Aug 2016 12:41:40 GMT Blackmores Limited (ASX:BKL) (OTCMKTS:BLMMF) are pleased to provide an Analysts Briefing for the full year financial results, year ending 30 June 2016.

RECORD SALES AND PROFITS

- Group Sales of $717m, +52%

- Group NPAT of $100m, +115%

- EBIT of $145m, +101%

- Basic Earnings per share of 580.6 cents, +114.5%

- Final dividend of 210c, taking total dividends to 410c fully franked

2015 / 2016 HIGHLIGHTS

- Leading Asia Pacific Natural Health Group

- Exceptional Year - Group Sales up 52% at $717m, NPAT up 115%

- Recognised as one of Australia's best employers by AON

- 117 New products launched across the Group

- Significantly invested in infrastructure and new businesses to build future pipeline

- Secured supply in a constrained environment, building reserves of scarce materials

- Acquired Global Therapeutics in May 2016 - Australian market leader in Chinese herbal medicine category

- Entered ASX 100

ASIA GROWTH

- Asian consumers estimated almost 50% of Group sales

- Asia in-country sales at $129m up 54%, delivering almost $15m in EBIT up 79%

- China in-country sales at $48m up 536%. Omni-channel approach in China is delivering and consumer demand continues to grow. EBIT at $12.6m up 979%

- Evolving regulations provide opportunities to expand in the retail market

- Strong sales in established markets - including Thailand, Malaysia, Singapore, Hong Kong, Taiwan up 11%

- Korea had a challenging second half result, negatively impacting EBIT $2.8m

- Investment in upcoming launch in Indonesia and capability in Blackmores International office as we continue to transform our business to better serve Asia

OUTLOOK

- Strong consumer demand across our business and growing market share affirming our leadership in Australia

- The Australian wholesale market is volatile and has softened in recent weeks impacted by retailers destocking and some exporters changing the channels through which they acquire products

- We expect First Quarter to be down compared to the prior corresponding period

- We are confident that sales will improve as the year progresses.

- We continue to develop our business model, building new growth channels, adapting our cost base and accelerating our transition

- Continued optimism for long-term growth.

To view the full Analysts Briefing, please visit:
http://abnnewswire.net/lnk/36R64BX3

MEDIA CONTACT:
Sally Townsend
Head of Communications
M: +61-419-225-781

INVESTOR CONTACT:
Christine Holgate
Chief Executive Officer
T: +61-2-9910-5186

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newsroom@abnnewswire.net
<![CDATA[ Blackmores Limited (ASX:BKL) Full Year Results Announcement ]]> en84582 Y http://www.abnnewswire.net/press/en/84582/ Wed, 24 Aug 2016 10:04:14 GMT Blackmores (ASX:BKL) (OTCMKTS:BLMMF) has announced its fourteenth consecutive year of sales growth, delivering Group sales of $717 million, up 52% on the prior year and resulting in net profit after tax (NPAT) of $100 million, 115% up on the prior year.

Highlights:

- Group sales of $717 million, up 52% on the previous year

- Record net profit after tax of $100 million, up 115% on the previous year

- Exceptional sales in Australia, boosted by over $200 million in China influenced sales

- Acquisition of Global Therapeutics in the fourth quarter

- Final dividend of 210 cents per share, total ordinary dividends for the year were 410 cents per share (fully franked), 102% above last year's record dividends.

"Growing consumer demand for our products enabled us to realise further operational benefits and saw the Group double production capacity over the year," said Blackmores CEO Christine Holgate. "Importantly, we were able to maintain our commitment to unrivalled quality standards by further extending into our supply chain whilst productivity and efficiency was boosted."

AUSTRALIA (INCLUDING PAW)

Blackmores' Australian business delivered $495 million in sales, up 56% compared to the previous year, reflecting the strong growth from Australian consumers and further boosted by sales to Chinese tourists and exporters to satisfy the appetite for Blackmores' quality products in China.

Pure Animal Wellbeing (PAW), Blackmores' animal health division, achieved $7 million in sales (up 31%) and maintained a strong leadership position in the natural pet health market.

ASIA

In-country sales in Asia were $129 million, a 54% increase compared to the previous corresponding period, driven through a range of channels including pharmacy, online retailers and health stores.

"Pleasingly, our more established markets in Asia had a strong sales year, and while Korea experienced sales challenges, the region delivered top line growth achieving sales of $81 million (up 6%) including sales from Thailand and Malaysia," said Christine Holgate.

"Asia sales were bolstered by in-country sales in China of $48 million (up 536%). The expansion of free trade zones and our ability to serve e-commerce customers through our bonded warehouse in China have enabled us to benefit from the opportunities in Asia."

"In China, Blackmores has invested in an 'omni-channel' strategy, utilising multiple sales channels to connect the brand with consumers, enabling us to leverage opportunities and evolving regulations," said Christine Holgate. "This included a greater retail presence that will underpin our future growth in this market. We estimate that Chinese consumers influence over $250 million of our Group sales through a combination of export sales, in-country sales and sales through Australian retailers."

"The Asia earnings before interest and taxes (EBIT) result includes Blackmores' investment to launch in Indonesia next month," said Christine Holgate. "Indonesia is an exciting opportunity with a fast growing middle class and an increasing number of consumers taking a greater interest in health.

It will take time to establish our brand and business in Indonesia and it is another important milestone in our Asia growth strategy."

BIOCEUTICALS

BioCeuticals, Blackmores' practitioner-only range, delivered a strong result with $69 million in sales (up 25%). New product innovation and education were central to its success as the Australian market-leading brand for healthcare professional dispensing. They have also commenced distribution in the United States, a market with a strong network of allied health practitioners.

"Since acquiring BioCeuticals in 2012, we have doubled its profitability," said Christine Holgate. "BioCeuticals' growth was particularly pleasing given that this year's results include the payment of incentives and profit share to BioCeuticals employees following their adoption of the Blackmores Enterprise Agreement as well as the investment in new offices to support growth."

DEVELOPING BUSINESSES

Developing businesses - including New Zealand; Blackmores' contribution from the nutritional foods partnership with Bega; and sales from the recently acquired Global Therapeutics - contributed $23 million to Group revenue (up 50%).

Sales in New Zealand of $16 million (up 53%) were positively impacted by a change to our business model in this country including the appointment of a Blackmores sales team.

Blackmores' partnership venture to develop nutritional foods including infant formula with Bega has achieved early sales of $9 million of which Blackmores has a 50% share.

In May 2016, Blackmores acquired Global Therapeutics, an Australian company, with two brands offering Chinese herbal medicine, Fusion Health and Oriental Botanicals. Each are market leaders in this category in health food stores and pharmacy with an estimated 80% market share of retail Chinese herbal medicine. We are excited about the growth opportunities for these products both in Australia and in Asia. Global Therapeutics contributed $3 million to our revenues since the acquisition.

DIVIDEND

The Board has declared a final dividend of 210 cents per share (fully franked), taking total dividends for the year to 410 cents (up 102% compared to last year). The dividend is payable on 21 September.

"We are pleased in a year of exceptional growth to be able to reward our shareholders with a record dividend payout which is a fitting way to thank them for their support," said Christine Holgate.

OUTLOOK

"We are pleased with our progress in the last year in delivering our strategic priorities and leveraging the strong social and demographic trends underpinning the growing consumer interest in natural health products, and demonstrating the proven demand for our brand."

"We are encouraged by strong consumer demand across our business and growing market share affirming our leadership in Australia and the strong momentum from Blackmores Asia and BioCeuticals."

"The Australian wholesale market is volatile and has softened in recent weeks impacted by retailers destocking and some exporters changing the channels through which they acquire products. As a result, at this stage we expect our first quarter result to be down compared to the prior corresponding period. We expect sales will improve as the year progresses and will continue to develop our business model, building new growth channels, adapting our cost base and accelerating our transition to support the changing retail landscape to ensure our continued optimism for long-term growth."

To view the full Annual Report, please visit:
http://www.abnnewswire.net/lnk/3LYCA5XW

MEDIA CONTACT:
Sally Townsend
Head of Communications
M: +61-419-225-781

INVESTOR CONTACT:
Christine Holgate
Chief Executive Officer
T: +61-2-9910-5186

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newsroom@abnnewswire.net
<![CDATA[ Blackmores Limited (ASX:BKL) Annual Report 2016 to Shareholders ]]> en84577 Y http://www.abnnewswire.net/press/en/84577/ Wed, 24 Aug 2016 09:41:40 GMT Blackmores Limited (ASX:BKL) (OTCMKTS:BLMMF) is the leading natural healthcare company across the Asia Pacific region.

Blackmores' operations include product innovation and formulation, sourcing of the highest quality ingredients, quality programs to ensure compliance with standards of good manufacturing practice and the marketing, sales and distribution of products to customers and consumers.

Our operations are structured to service and deliver to multiple channels including pharmacy, mass merchandisers, grocery, health food stores, practitioners and online. Our Animal Health range is also sold to vets and wholesalers.

Activities across the Group for the 2016 financial year were aligned to four key strategic priorities:

- Consumer Centricity - To promote our high quality products, supported by evidence and access to trusted advice, the Group significantly increased brand investment and our understanding of the consumer in our core markets in Australia and in Asia.

- Asia Growth - Asia brings access to two billion health conscious consumers, this is an opportunity for Blackmores to grow, increase scale, diversify our earnings and build a natural hedge into our business. Blackmores' Asian-based regional structure is fully operational to enable more efficient decision making and improved operational efficiencies.

- Product Leadership - Blackmores is a clear leader in the area of research and development and we have supported this with increased investment in the Blackmores Institute, a program of product range innovations and the development of independently accredited education programs.

- Operational Effectiveness - Improved operational efficiencies were derived from investment in and with our supply chain partners, leveraging our Central Services business model and optimising our increased size into scale benefits.

Group and Divisional Results

Group Sales for the year were $717.2 million (2015: $471.6 million), an increase of 52% compared with the prior year and our 14th consecutive year of sales growth.

Sales in Australia, our heartland market, were up 56% compared to the prior year and were stimulated by a growing consumer demand for high quality, natural wellness products. We have launched new products and improved our service of retail customers while investing in our brand through integrated marketing activity. The Australian business continued to benefit from increased sales through Chinese tourists and entrepreneurs shopping in Australia and Chinese Australian consumers purchasing for relatives and friends and shipping to China.

Excluding the impact of these sales, the Australian consumer business remains very healthy with sales up approximately 10%.

By combining the contribution from these consumers with our in-country revenues from Asia, the Asian consumer accounts for almost 50% of Group sales. This demonstrates the growing demand for our brand outside Australia and highlights the importance of our Asia growth strategy.

Increased sales to China have been supported by the Wholly Foreign-Owned Enterprise (WFOE) established in recent years.

The opening of free trade zones in 2014 and further expansion across the current year has created a substantial opportunity for the company, especially as Blackmores is one of only a few companies in this category to secure a licence to directly trade within the zones.

We are encouraged by the Australian Government's commitment to improved trade relations within the Asian region, which we believe will continue to support further growth. Asia is a key region for Blackmores, providing an important platform to secure long-term profitable growth.

Blackmores Asia achieved record sales, with full year sales up 54% to $129.4 million and EBIT up 79% to $14.9 million. In-country sales from Asia now comprise 18% of Group revenue.

Blackmores Korea experienced sales challenge. This, coupled with the investment in Blackmores' upcoming launch into Indonesia, resulted in a reduction in earnings for the 'Other Asia' segment compared to the prior year.

Our growing revenue from Asia has helped create a natural hedge whereby the impact of changes to off-shore revenues as a result of foreign exchange fluctuations are partially offset by the procurement benefits to the Group. Our growing businesses in Asia have afforded the Group many scale benefits which have improved our operating efficiencies. We have grown our workforce considerably to support the growth, creating new jobs in Australia and Asia. Overall this has bolstered the returns we have delivered to our shareholders.

BioCeuticals sales grew 25%, with strong growth in the practitioner-only range. This performance, combined with successful new product launches and a close management of the cost base, delivered EBIT growth of 9% on the prior year. This EBIT result includes the payment of incentives and profit share to BioCeuticals employees following their adoption of the Blackmores Enterprise Agreement. Excluding this, underlying BioCeuticals EBIT is up 28%. BioCeuticals represents approximately 10% of Group revenue.

Blackmores New Zealand, Global Therapeutics and Blackmores' proportion of our Nutritional Foods partnership with Bega are reported as part of the 'Other' segment. These businesses have contributed $23 million in sales, up from $15 million the prior year.

Group Financial Position

Total current assets increased by $107 million to $295 million, 57% up on the prior year. This reflects an increase in working capital commensurate with growth in the business with inventory increasing by $78 million to $116 million largely due to higher inventory levels to meet consumer demand.

Current liabilities have increased from $115 million to $192 million reflecting both the increased inventory purchases, higher employee incentives and increased income tax obligations.

Non-current liabilities have increased from $45 million to $61 million largely due to an increase in interest-bearing liabilities. Net debt remains low at $18 million but has increased marginally from the $7 million reported in the prior year. This increase includes $23 million of debt funding required to acquire Global Therapeutics.

The business has continued to generate strong net operating cash flows at $83.7 million, 18% growth over the prior period.

This was due to a strong trading performance, improved treasury capability offset by direct purchasing of raw materials to secure quality ingredients.

The cash conversion ratio of 81% reflected a continued focus on operational effectiveness initiatives whilst the company built inventory levels, invested in packaging robotics and acquired Global Therapeutics.

The Group gearing ratio at 9.1% remained low (2015: 5.1%) and net interest cover at 80.2 times (2015: 21.1 times) provides significant cover within our existing banking covenants even after the acquisition of Global Therapeutics.

Equity increased from $133 million to $181 million, a $48 million increase due to growth in Group NPAT, reserves, retained earnings and our interest in PT Kalbe Blackmores Nutrition, our Indonesian joint venture.

Group NPAT was $100.0 million (2015: $46.6 million) a 115% increase on the prior year and similarly Basic earnings per share (EPS) increased from 270.7 cents per share to 580.6 cents per share, an increase of 114.5%.

Our focus on delivery of shareholder returns has resulted in industry leading return on assets at 39.9% and return on equity of 56.1% and highlights a continued trajectory of year on year improvement.

Group Operational Review

In the prior year, Blackmores was constrained by an inability to maintain stock to meet the rapidly growing demand for our products from consumers in Asia. A number of initiatives, from investing in the company's capacity programs through to putting in additional partnership arrangements with suppliers and customers, have been executed in the year.

We are also holding inventory of scarce raw materials to give us access in a growing market to mitigate against the vulnerability of having core product lines out of stock.

Total expenses for the year were $454 million representing a 43% increase over the prior year. Total sales growth of 52% was the primary contributor with sales-related expenses of raw materials and freight up 46% to $225 million. The remaining expenses increased by $66 million to $229 million included employee performance related incentives which were $16 million greater than the prior year.

Operational Highlights

Unprecedented consumer demand for products has continued.

To protect our unrivalled quality standards and build capacity, the Group has:

- Increased staff and shifts at the Blackmores Campus packaging facility.

- Audited and secured more quality approved suppliers.

- Completed extensive quality audits of new suppliers.

- Doubled warehouse footprint including new leased facilities at Eastern Creek in Western Sydney.

- Invested in new plant equipment including quadruple head counters, increasing packing speed from 4,000 tablets per minute to 13,000 tablets per minute.

- Installed four new robotic packing cell.

Resulting in Record Outputs

In the past 12 months, the Group produced 486 million tablets and capsules and shipped 43 million units which we delivered to more than 25,000 retail partners.

To view the full Annual Report, please visit:
http://abnnewswire.net/lnk/XP74VQ91

MEDIA CONTACT:
Sally Townsend
Head of Communications
M: +61-419-225-781

INVESTOR CONTACT:
Christine Holgate
Chief Executive Officer
T: +61-2-9910-5186

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newsroom@abnnewswire.net
<![CDATA[ Fairmont Equities Stock Tips August 15 - MTR REA BKL ANZ ]]> en84463 Y http://www.abnnewswire.net/press/en/84463/ Mon, 15 Aug 2016 13:12:19 GMT Michael Gable Managing Director and founder of Fairmont Equities brings the latest stock tips for August 15, 2016. Featured stocks include Mantra Group, REA Group, Blackmores Limited and Australia & New Zealand Banking Group.

Mantra Group Ltd (ASX:MTR)

- Finding good support here and buy signals now getting triggered.

- Consensus target at $4.

- The company will report this Friday.

REA Group Limited (ASX:REA)

- Full year results see the stock tumble as expected.

- Expect sideways action for at least a few months.

Blackmores Limited (ASX:BKL)

- Buy signal now received on the MACD.

- Short term resistance now breached. Expect the stock to move higher from here.

Australia and New Zealand Banking Group (ASX:ANZ)

- After underperforming earlier this year, ANZ now showing the most promise.

- Key resistance now breached. Expect ANZ to see further buying from here.

To view the video, please visit:
http://www.abnnewswire.net/press/en/84463/Fairmont

Michael Gable is an Authorised Representative (No. 376892) and Fairmont Equities Pty Ltd is a Corporate Authorised Representative (No. 444397) of Novus Capital Limited (AFS Licence No. 238168).

The information contained in this presentation is general information only and is copy write to Fairmont Equities. Fairmont Equities reserves all intellectual property rights. This presentation should not be interpreted as one that provides personal financial or investment advice. Any examples presented are for illustration purposes only. Past performance is not a reliable indicator of future performance.

No person, persons or organisation should invest monies or take action on the reliance of the material contained in this presentation, but instead should satisfy themselves independently (whether by expert advice or others) of the appropriateness of any such action. Fairmont Equities, it directors and/or officers accept no responsibility for the accuracy, completeness or timeliness of the information contained in the presentation.

- Charts courtesy of AmiBroker unless stated otherwise.

Fairmont Equities
Phone: +612-9375-0138
Email: mail@fairmontequities.com
Twitter: @FairmontEquAU
www.fairmontequities.com

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newsroom@abnnewswire.net
<![CDATA[ Fairmont Equities Stock Tips July 18 - MND WSA AHG BKL ]]> en84195 Y http://www.abnnewswire.net/press/en/84195/ Mon, 18 July 2016 14:45:51 GMT Michael Gable Managing Director and founder of Fairmont Equities brings the latest stock tips for July 18, 2016. Featured stocks include Monadelphous Group, Western Areas, Automotive Holdings Group and Blackmores.

Monadelphous Group Limited (ASX:MND)

- Higher risk trade. The sector is risky and the stock is expensive
- Breaking through an ascending triangle

Western Areas (ASX:WSA)

- Higher risk trade. Stock appears expensive
- Rallying on the back of increasing Nickel prices
- Big volume as it breaks a 2 year downtrend

Automotive Holdings Group Limited (ASX:AHG)

- Confirming the breakout on good volume
- Up 11% from a week ago
- Traders to consider short term profit taking

Blackmores Limited (ASX:BKL)

- Consensus broker targets at $189
- Bullish price action last week
- Watch the MACD crossing on the weekly chart

To view the video, please visit:
http://www.abnnewswire.net/press/en/84195/Fairmont


Michael Gable is an Authorised Representative (No. 376892) and Fairmont Equities Pty Ltd is a Corporate Authorised Representative (No. 444397) of Novus Capital Limited (AFS Licence No. 238168).

The information contained in this presentation is general information only and is copy write to Fairmont Equities. Fairmont Equities reserves all intellectual property rights. This presentation should not be interpreted as one that provides personal financial or investment advice. Any examples presented are for illustration purposes only. Past performance is not a reliable indicator of future performance.

No person, persons or organisation should invest monies or take action on the reliance of the material contained in this presentation, but instead should satisfy themselves independently (whether by expert advice or others) of the appropriateness of any such action. Fairmont Equities, it directors and/or officers accept no responsibility for the accuracy, completeness or timeliness of the information contained in the presentation.

- Charts courtesy of AmiBroker unless stated otherwise.

Michael Gable
www.fairmontequities.com.au

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newsroom@abnnewswire.net
<![CDATA[ Blackmores Limited (ASX:BKL) Shareholder Briefing ]]> en83525 Y http://www.abnnewswire.net/press/en/83525/ Fri, 6 May 2016 10:18:55 GMT Blackmores Limited (ASX:BKL) Shareholder Briefing including Blackmores' Asia Market Strategy.

CHINA IN BLACKMORES ASIA STRATEGY

- China has emerged as Blackmores' single most important overseas market

- We are well established to capture significantly more growth and have first mover advantage in a number of key areas

- We need to invest to build and cement our brand position in the market

- Regulatory change is a reality of the China business landscape. We are well prepared to evolve with the constant regulatory change

- The cross-border e-commerce market is undergoing constant rapid evolution and we have a unique understanding of new opportunities in the China ecommerce space

- We are further building our structure, staff capabilities, operations, supply chain and governance to support a strong sustainable presence for Blackmores in China

To view the full Shareholder briefing, please visit:
http://abnnewswire.net/lnk/N7P8HEGQ

MEDIA CONTACT:
Sally Townsend
Head of Communications
M: +61-419-225-781

INVESTOR CONTACT:
Christine Holgate
Chief Executive Officer
T: +61-2-9910-5186

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newsroom@abnnewswire.net
<![CDATA[ FINANCE VIDEO: Blackmores Ltd (ASX:BKL) CEO Christine Holgate and Paul Keogh Share Insights into the New Acquisition ]]> en83519 Y http://www.abnnewswire.net/press/en/83519/ Fri, 6 May 2016 08:18:43 GMT Following a strong year to date performance delivering sales and profit growth from all areas of the business, Blackmores Ltd (ASX:BKL) has announced their acquisition of Global Therapeutics, Australia's leading Chinese herbal medicine company.

Blackmores CEO, Christine Holgate and Global Therapeutics Founder, Paul Keogh, talk about the strong strategic and cultural alignment between these two Australian businesses.

Today Blackmores announced the acquisition of Global Therapeutics Pty Ltd (Global Therapeutics), Australia's leading provider of retail Chinese herbal medicine formulations through the brands Fusion(R) and Oriental Botanicals(R).

Blackmores will acquire 100% of Global Therapeutics for A$23 million subject to customary adjustments. The acquisition will be debt-funded and is expected to be earnings accretive in the first full year under Blackmores ownership.

In the last 12 months Global Therapeutics delivered $20 million in invoiced sales and $3.0 million earnings before income tax, depreciation and amortisation.

Global Therapeutics was established in Byron Bay in 1999 as Fusion(R) Health by naturopath and medical herbalist Paul Keogh and natural health industry veteran Geoff Teasel. The product range is based on the combination of incorporating herbal extracts used in China for more than 2,000 years with those validated by modern science. The Fusion(R) range has a leading position in health food stores, while its sister range, Oriental Botanicals(R), is the leading brand in this category in pharmacy.

The acquisition of the two highly respected brand names, full product portfolio and more than 40 staff will further cement Blackmores' position as the number one provider of natural health products in Australia while also giving the company a leadership position in the health food store channel.

"The acquisition of Global Therapeutics affirms Blackmores' position as the leading natural health company in Australia and gives us a foothold in the rapidly growing Chinese herbal medicine market," said Blackmores Chief Executive Officer, Christine Holgate. "The Blackmores Group now has leading brands in pharmacy, health food stores and the practitioner market."

"Through its leading brands Fusion(R) and Oriental Botanicals(R) Global Therapeutics has established an enviable position in the health food store and pharmacy channels highlighting the growing acceptance of Chinese herbal medical treatments in Australia," she said. "They have a strong reputation for innovation and a growing product range."

"In the future, Global Therapeutics will also provide us a new product portfolio to sell through our existing distribution networks in Asia while also deepening our understanding of Chinese herbal medicine," she said. "It will bring us closer to our Chinese consumers in Australia which will underpin our growth success internationally, and it will give us further scale to boost our operational effectiveness."

With over 4,700 registered traditional Chinese medicine practitioners in Australia, as well as the growing use of Chinese herbs in self-selection channels, Blackmores sees considerable opportunity in this $170 billion global market.

"The acquisition furthers our strategy of product leadership and channel diversity within the category we operate," she said.

To view the video interview, please visit:
http://www.abnnewswire.net/press/en/83519/blackmores

MEDIA CONTACT:
Sally Townsend
Head of Communications
M: +61-419-225-781

INVESTOR CONTACT:
Christine Holgate
Chief Executive Officer
T: +61-2-9910-5186

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newsroom@abnnewswire.net
<![CDATA[ Blackmores Limited (ASX:BKL) Analysts Briefing ]]> en83439 Y http://www.abnnewswire.net/press/en/83439/ Thu, 28 Apr 2016 19:04:24 GMT Blackmores Limited (ASX:BKL) Third Quarter Financial Results to the Nine months ended 31 March 2016

Record 9 Months- Delivering Group Profit up 145%

- Strong sales performance across the Group with all businesses and regions delivering sales growth

- Group Sales $532 million, up 63%

- Our 10th consecutive quarter of year on year growth

- Growth is from all businesses and regions across the Group

- Excluding impact of Chinese consumers, Asia in-market direct sales up 11% and Group revenue up 14%

- Further operating leverage delivered EBIT of $110m, up 134% & improved EBIT margin to 21%

- Record NPAT of $76 million, up 145% YOY

Blackmores Australia

Australia delivering strong profitable growth

- Australia Sales up 71% to $369m

- Chinese consumers influencing Australian retail, underlying double digit growth

- Continued support for community pharmacy, accredited education programs and new product development

- NZ & Pure Animal Wellbeing both experiencing strong growth, combined sales up 40% at $16m including PAW launch in Japan

Blackmores Asia - strong & increasingly important

- Asia in-market sales of $98 million for the period, up 64%

- Asian shoppers estimated to account for 50% of Group revenue

- Established markets continue to perform well

- Now in 15 countries and all regions growing

- Blackmores event in China for Heart Ali charity supported by Chinese actress Fan Bing Bing and Mrs Lucy Turnbull AO

Doing Business in China

- Recently announced regulatory changes on Chinese cross border e-commerce are a positive reflection of the Chinese government's commitment to the free trade zones

- Additional ingredients approved for in-market sales are a future opportunity for Blackmores

- Regulatory evolution is a characteristic of this market and we have a highly experienced local team and numerous channels to reach the Chinese consumer

- Blackmores will host shareholder events in three locations (Sydney, Shanghai & Melbourne) in May so shareholders can better understand this complex market that is rich with opportunity

BioCeuticals - an important platform for Product Leadership

- BioCeuticals continues strong third quarter performance:

- YTD sales of $50m, up 24%

- Strong pipeline of new product development, backed with recognised education and research underpinning performance

- New agreement with leading distributor in the United States

- Clear market leadership affirmed

Operational Effectiveness delivers further benefits

- Record production output to support growth and further investment in building capacity and inventory levels

- Forged stronger supplier partnerships to ensure access to quality ingredients

- Improved efficiency of operational facilities has partially off-set impact of increased raw ingredient prices and currency volatility

- Continued focus on efficient management of cash whilst paying healthy dividends and further investing in growth

Outlook

- Continued focus on delivery of strategic priorities

- Board maintains its confidence in our strategy and ability to deliver a strong full year profit result and improved returns for shareholders and staff.

To view the analysts briefing, please visit:
http://abnnewswire.net/lnk/O3I23089

MEDIA CONTACT:
Sally Townsend
Head of Communications
M: +61-419-225-781

INVESTOR CONTACT:
Christine Holgate
Chief Executive Officer
T: +61-2-9910-5186

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newsroom@abnnewswire.net
<![CDATA[ Blackmores Limited (ASX:BKL) Delivers Record Profits, Up 145% for First Nine Months with Growth From All Businesses and Regions ]]> en83436 Y http://www.abnnewswire.net/press/en/83436/ Thu, 28 Apr 2016 13:17:35 GMT Blackmores Limited (ASX:BKL) announces continued strong growth across all regions and brands with a record net profit after tax of $76 million for the first nine months of the financial year, a 145% increase on the prior corresponding period.

Highlights:

- Group sales of $532 million for the nine months to 31 March, up 63% compared to the prior corresponding period

- Net profit after tax (NPAT) for the nine months to 31 March of $76 million, up 145% compared to the prior corresponding period

- New record quarter for sales & profits - tenth consecutive quarter of year on year growth

- Every region and business experiencing strong growth

Growing consumer demand for quality health and nutrition products both in Australia and Asia delivered sales of $532 million for the period, up 63%.

"China is an important part of our growth strategy and I'm particularly pleased that even excluding the influence of Chinese consumers our Group is growing underlying sales at 14%," said Blackmores Chief Executive Officer, Ms Christine Holgate.

"This is our tenth consecutive quarter of year on year growth underpinned by strong top line revenue increases from all regions and brands across the Group resulting in a record bottom line for shareholders," she said.

"Our continued support for community pharmacy, accredited education programs and investing in new product development have played a key role in retaining the loyalty of our consumers," said Christine Holgate.

Blackmores is Australia's leading natural health company in the domestic market and sales in Blackmores branded products in Australia for the period were $369 million, up 71%.

"Blackmores Asia in-market sales of $98 million grew at 64% with year to date revenue already exceeding the previous full year," said Christine Holgate. "Our more established markets across Asia continue to perform. The strength of demand for our brand in Asia is reflected in the growth from Asian shoppers whom we estimate account for 50% of Group revenue."

"In recent weeks, the Chinese government has announced regulatory developments for cross border e-commerce trading. Blackmores welcomes the focus from the Chinese government on clarifying rules for importing and we believe it is a positive reflection of their commitment to the free trade zones," said Christine Holgate. "I am also encouraged to see further opportunity for Blackmores with the announcement of more ingredients approved for sale in the broader retail market in China."

"It is a characteristic of all markets that regulations evolve. We believe Blackmores is well-placed to manage the constant evolution of the Chinese regulatory landscape with our omnichannel operating model for our China business and our ability to serve consumers through direct and indirect product supply, supported by a highly experienced local team," she said.

BioCeuticals sales were $50 million for the nine months, up 24% compared to the prior period.

"BioCeuticals' result has been achieved with strong sales growth supported by an innovative pipeline of new products backed by scientific evidence and recognised education to the practitioner market, where we are now clear market leaders," said Christine Holgate.

Blackmores New Zealand and Pure Animal Wellbeing maintained their momentum with combined sales of $16m, up 40%.

"In January we announced the first release of our infant nutrition range with a limited distribution into Australian pharmacies," said Christine Holgate. The range is the first product launch from the joint venture between Blackmores and Bega subsidiary Tatura, a partnership which was announced last October. "We are now well positioned for the launch into Australian grocery retailers and the commencement of marketing in the next quarter."

"Over the year we have forged stronger partnerships with our suppliers to build reserves of key ingredients to ensure we have access to quality products to meet consumer demand," said Christine Holgate. "The Blackmores Campus continues to increase capacity to meet the supply requirements, supported by additional staff and the upgrading of our packaging lines. The increased cost of raw materials following recent scarcity and the impact of currency volatility has been partially offset by the improved efficiency of our operational facilities."

"Whilst our business develops we remain focused on the efficient management of cash as we continue to pay healthy dividends, build inventory levels and invest in our future growth," she said.

OUTLOOK

"We are pleased with the performance of all brands and regions in the Group and the significant progress we have made on our strategic priorities of: Consumer Centricity; Asia Growth; Product Leadership; and Operational Effectiveness."

"These strategic pillars have underpinned a strong result for the quarter and the year to date," said Christine Holgate. "We remain confident that we will deliver a strong full-year profit result and improved returns for shareholders and staff."

To view release including results, please visit:
http://abnnewswire.net/lnk/R9WFGQ18

SHAREHOLDER EVENTS

Blackmores is hosting a series of shareholder events on 'Doing Business In China'. The first briefing will be held at Blackmores Campus Warriewood, 20 Jubilee Ave, Warriewood on Friday 6 May from 9.30am to 1.00pm.

"China is an important part of Blackmores' growth strategy, as it is for the Australian economy, and therefore gaining an understanding of how this market works is increasingly important for shareholders," said Christine Holgate. "We are very proud of the support for our brand in China and believe strongly in the prospects of this market and the opportunities it can bring."

"Like many countries, regulation evolves and develops in China. In the last week alone there have been several important developments. Blackmores' view of these latest developments is that we welcome the focus from the Chinese Government on clarifying rules for importing," she said.

As well as keynote addresses from Blackmores CEO and management team, speakers will include Liu Bing the Senior Advisor, China at Austrade, and Andrew Parker, a Partner from PWC and the Head of their Asia Practice, on what they believe are the opportunities and challenges when building a business in China.

Recognising many shareholders may not be able to join us at Warriewood that day, we will host a briefing in Shanghai on Tuesday 10 May 2016 and in Melbourne on Thursday 19 May 2016. Shareholders are invited to confirm their attendance by either emailing or calling Simone Koolloos.

Simone Koolloos
T: +61-2-9910-5186
E: skoolloos@blackmores.com.au

To view release including results, please visit:
http://abnnewswire.net/lnk/R9WFGQ18

MEDIA CONTACT:
Sally Townsend
Head of Communications
M: +61-419-225-781

INVESTOR CONTACT:
Christine Holgate
Chief Executive Officer
T: +61-2-9910-5186

]]>
newsroom@abnnewswire.net
<![CDATA[ Blackmores Limited (ASX:BKL) Analysts Briefing - Delivering Group Profit up 160% ]]> en82811 Y http://www.abnnewswire.net/press/en/82811/ Thu, 25 Feb 2016 18:49:25 GMT Record Half Year - Delivering Group Profit up 160%

Highlights:

- Strong sales performance across the Group

- Group Sales $341 million, up 65%

- Further operating leverage delivered EBIT of $69m, up 145% and improved EBIT margin to 20%

- Record NPAT of $48 million, up 160% YOY and greater than total F15

- Earnings Per Share up 159% at 280c

- Interim Dividend Per Share up 194% at 200c

- Fully franked, record day 10 March 2016, Payable on 24 March 2016

- Doubling of operating cash-flows, securing a 112% Cash Conversion ratio

- Debt free and Net Cash positive $23m

- Launched first products with Bega partnership

To view the presentation, please visit:
http://media.abnnewswire.net/media/en/docs/ASX-BKL-908953.pdf

Blackmores Limited
Sally Townsend, Head of Brand Communications
T: +61 2 9910 5122
E: stownsend@blackmores.com.au
WWW: www.blackmores.com.au

]]>
newsroom@abnnewswire.net
<![CDATA[ Blackmores Limited (ASX:BKL) Half Year Results Announcement ]]> en82807 Y http://www.abnnewswire.net/press/en/82807/ Thu, 25 Feb 2016 10:19:49 GMT Blackmores Limited (ASX:BKL) has announced continued momentum across its business delivering $48 million net profit after tax (NPAT) for the first half of the financial year, up 160% on the prior corresponding period. The first half profit result exceeds the total profit last year, which was already a strong period.

Highlights

- Group sales of $341 million for the first half, up 65% on prior corresponding period

- First half net profit after tax $48 million, up 160% and earnings per share of 280 cents, up 159%

- Strong financial position with a positive net cash balance

- Interim dividend of 200 cents per share (fully franked), a 194% increase on the prior corresponding period

The results are driven by continued growth from all segments and all markets with first half sales of $341 million, up 65% on last year's first half.

"China, in particular, continues to grow in importance with sales to Chinese consumers, both direct and through Australian retailers, estimated to represent 40% of Group revenues," said Blackmores Chief Executive Officer, Ms Christine Holgate. "Excluding these China sales, we are pleased that both the Group and our core Australian business are still in double digit growth."

Blackmores Australia sales for the period were $238 million, a 73% increase compared to the prior corresponding period with earnings before interest and tax (EBIT) of $64 million. Sales to retailers in Australia have been bolstered by Chinese tourists and entrepreneurs, as well as from continued innovation and marketing activity. This included the launch of a Superfood range, the opening of a flagship store, education programs and digital marketing.

Blackmores Asia direct in-market sales were $61 million, a 73% increase compared to the prior corresponding period. Earnings before interest and tax (EBIT) from the region were $5.8 million, more than three times the prior corresponding period, highlighting the increasing profitability of the Asian business.

"The strength of the brand and proven demand for our products was reflected in sales growth in all of our markets in Asia," said Christine Holgate.

BioCeuticals sales were $33 million, up 24% compared to the prior corresponding period with EBIT of $5 million. The business has a continued focus on delivering new product innovation, professional advice and a commitment to servicing healthcare practitioners.

Blackmores New Zealand and Pure Animal Wellbeing also continued to demonstrate improved sales and earnings performances.

"Blackmores Institute has supported the expansion of Blackmores in Asia given the importance of education and knowledge underpinning the presence of our product range in new markets and the need to educate health care professionals," said Christine Holgate. "This was furthered in the period with a partnership agreement with Rangsit University in Bangkok to expand its pharmacy education program."

Total Group expenses grew 53%, to $273 million, predominantly reflecting the increase of raw materials and freight needed to support the strong growth.

"Meeting the needs of our consumers and the growing demand for our products has been our most important challenge, particularly given our commitment to uphold unrivalled quality standards," said Christine Holgate. "As well as working closely with our growers and ingredient suppliers, we have invested in additional plant and equipment to increase capacity. Combined with the addition of a third production and distribution shift, this has resulted in record productivity for the Group."

"Our partnership with Bega Cheese Ltd (ASX:BGA) to develop and manufacture a range of nutritional foods made exciting progress in the half, resulting in the early launch of an infant nutrition range in January 2016," said Ms Holgate, noting that there are no sales for this new segment included in the first half reporting period.

"We continue to invest in new platforms for growth and strategic partners including a long-term joint venture with Kalbe Farma to facilitate entry into the Indonesian market," said Ms Holgate. The joint venture is called Kalbe Blackmores Nutrition and will be consolidated into the Group's results, though there were no significant transactions during the period.

The Blackmores balance sheet is in a healthy position, with positive operating cash flow at $60 million compared to $29 million in the prior corresponding period. Net debt was cash positive at $23 million with net interest cover at 50 times, compared to 21 times in the prior corresponding period.

"Our continued success has further strengthened our balance sheet with Blackmores now net debt free," said Ms Holgate. "We are proud to be able to give our shareholders a 159% increase in earnings per share and a first half dividend of 200 cents, almost treble last year's first half dividend."

DIVIDEND

The Board has declared an interim dividend of 200 cents fully franked, which is an increase of 194% compared to the prior corresponding period. The record date is 10 March 2016 and the dividend is payable on 24 March 2016.

OUTLOOK

"We are pleased with our continued growth and progress on delivering our strategic objectives," said Ms Holgate.

"Our core business in Australia, New Zealand and the ASEAN region continues to enjoy double digit growth, while our emerging business in China has further propelled our success. We have strong, experienced leadership in China and have structured our operations to ensure a sustainable future."

"The Board maintains its confidence in our ability to achieve strong profit growth for the full year."

MEDIA CONTACT
Sally Townsend
Head of Communications
M: 0419 225 781 

INVESTOR CONTACT
Christine Holgate
Chief Executive Officer
+61 2 9910 5186

]]>
newsroom@abnnewswire.net
<![CDATA[ FINANCE VIDEO: Blackmores Limited (ASX:BKL) and Bega Cheese Ltd (ASX:BGA) Launch Infant Nutrition Products ]]> en82029 Y http://www.abnnewswire.net/press/en/82029/ Fri, 22 Jan 2016 15:43:53 GMT Blackmores Limited (ASX:BKL) has partnered with Bega Cheese Ltd (ASX:BGA) to develop a nutritional range of products. The first of these are infant nutrition formulas that are on sale in Australia from today.

"We've developed three Australian made products, formulated with the highest quality, premium ingredients and based on the combined expertise of Blackmores and Bega's subsidiary Tatura," said Blackmores CEO, Ms Christine Holgate. "Together our companies have more than 180 years of combined experience in nutrition and dairy manufacture which is one of the key reasons our customers trust our quality and ingredients."

Australian pharmacies will be the first to receive delivery of the new formulas, with the products also to be sold through established retailers in Asia including TMall.

"Our initial focus is supplying Australian pharmacies so mums have quality advice from a trusted healthcare professional," said Ms Holgate.

Blackmores has also bolstered their healthcare professional support in infant nutrition including the addition of a breastfeeding counsellor to their freecall advisory service. "Blackmores supports breastfeeding as optimal nutrition for babies, though it's also important to have a high quality offering for when breastfeeding is not possible," said Ms Holgate.

The partnership between Blackmores and Bega will be an important additional source of supply for the Australian infant nutrition market.

"We are conscious of the supply challenges in this category and the Blackmores and Tatura teams will work together to help ensure the continued supply of this range," said Ms Holgate.

The products will not only supply the local market but also the considerable export opportunity in Asia, including China.

Federal Minister for Trade and Investment, The Hon, Andrew Robb AO MP attended the official launch at the Blackmores Campus today: "Asia's growing middle class is becoming increasingly health-conscious; when you combine this with their preference for our clean, green, quality products, the collaboration between these two iconic Australian brands certainly creates enormous opportunity well into the future."

He noted the high demand for Australian health products in Asia was a burgeoning export opportunity for Australia. "This is further enhanced by the competitive advantage our Free Trade Agreements with Asia are providing for Australian businesses; the tariff on infant formula for example has been cut twice since the FTA with China came into force in December last year, and eventually will be eliminated altogether," Mr Robb said.

"There's no doubt the growing demand across Asia for Australia's world class goods and services will lead to job creation and economic growth well into the future."

Blackmores Infant Nutrition range is available from blackmores.com.au and selected pharmacies nationwide.

About Bega Cheese Limited

Bega Cheese's vision is to be an Australian dairy industry icon; valuing our heritage, people, customers and community. Embracing challenge. Driving change, building for the future.

Sally Townsend 
M: 0419 225 781 

Nina Crawford
M: 0401 601 242

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newsroom@abnnewswire.net
<![CDATA[ FINANCE VIDEO: Blackmores Limited (ASX:BKL) CEO Christine Holgate is Interviewed by ABN Newswire ]]> en82075 Y http://www.abnnewswire.net/press/en/82075/ Fri, 22 Jan 2016 12:48:27 GMT Blackmores Limited (ASX:BKL) has partnered with Bega Cheese Ltd (ASX:BGA) to develop a nutritional range of products. The first of these are infant nutrition formulas that are on sale now in Australia.

This is a transcript of the video interview:
ABN:
For investors watching, Blackmores Limited is listed on the ASX Stock Exchange with the ticker code BKL.

Good morning Christine, today Blackmores is launching a range of infant nutritional products, please tell us about those.

Christine Holgate:
Last October Barry Irvin and myself, he's the Chairman of Bega, announced forming a joint venture to develop a range of nutritional and medicinal foods, and the first of those are three infant formula products that we are announcing today and really it's the beginning of a really exciting journey for us.

ABN:
So, the exciting part is you are joining companies that have got a huge history of value for the Australian market, generating a product that is going to have a global demand.

Christine Holgate:
Well, both of our companies are strong iconic Australian companies which have been in the households of Australian families for generations. Barry through Tatura has over 120 years experience in dairy and Blackmores has over 80 years of experience in nutrition.

We are completely complimentary in what we do, but what we are absolutely committed, and similiar in, is our commitment to quality, sustainability, environment and value based cultures, our people.

So that's made it a really exciting combination to come together and to bring all that expertise to develop a product that mums can trust.

ABN:
Christine, how do you see the company growing now with this new partnership and with these export opportunities.

Christine Holgate:
Look, this new partnership gives Blackmores an opportunity to build on the expertise and leverage we have and take it, and expand it, into a new area so it's one more part of our diversity strategy.

I think it's also really important that at the heart of our strategy is our consumers and these are products our consumers have been asking us for, so I think the fact that we can achieve the needs of our consumers and also benefit the company leveraging their expertise and knowledge in a new market, and clearly we're creating something where there is a very strong demand for here in Australia but also in Asia.

I think what's exciting for me is, is that we're able to leverage our very strong relationships both in Australia and in Asia with Pharmacy. Blackmores is the leading brand in Pharmacy here in Australia and of course we are in many of the countries we are operating in in Asia.

We have about 40% market share in Thailand in natural health products and Pharmacy, so we believe that a very responsible place for particular infant formula should be sold in Pharmacy because that's where mums get good advice. They can count on good health care professional advice and work out whether these products are right for them or not.

ABN:
So I know that part of that distribution, because Blackmores has very strong distribution capability, but you are actually limiting the distribution to those organisations that can provide that value of advice to the consumer.

Christine Holgate:
We are initially, because we feel for the launch it's really important that the mums in Australia get to understand what the products are about, and the best way to do that is to get good healthcare advice, so we are restricting it initially to Pharmacy. We have made sure we've got national distribution of that.

We've been working with people like the Pharmacy Guild to make sure that we've got training inside Pharmacy so they understand what the products are and the benefits, also when not to use them.

And we also have here, in Blackmores, we have an advisory service available where we have a breastfeeding counsellor who will be online to help mums make those choices - what's right for them.

ABN:
Today we're at the Blackmores' facility in Sydney, in Warriewood, and it's a significant launch today. You've got a number of people here, you've got the Federal Minister for Trade and Export, Andew Robb and Li Na.

Christine Holgate:
Oh, we are so pleased to have the support of both Andrew and Li Na and for very different reasons. Andrew has made a significant contribution helping Australian companies build trade throughout Asia and to have his support and endorsement about Barry and I forming this joint venture is just fantastic and really encouraging.

Li Na, she's got to be one of the most inspirational people I have ever met. She's not only won an Open twice, in France and here in Australia, but she's a real and true believer for natural health. And of course she's a mum, and she's a new mum as well, so it's fantastic that she is with us and we are really proud to have her as a partner with Blackmores.

ABN:
Well, I wish you all the best for the launch today.

Christine Holgate:
Thank you.

To view the video interview, please visit:
http://www.abnnewswire.net/press/en/82075/Blackmores

Sally Townsend 
M: 0419 225 781 

Nina Crawford
M: 0401 601 242

]]>
newsroom@abnnewswire.net
<![CDATA[ Beston Global Food Company Ltd (ASX:BFC) Establishes Joint Venture Company with Hong Kong Based Sunwah Group ]]> en82044 Y http://www.abnnewswire.net/press/en/82044/ Mon, 18 Jan 2016 13:29:39 GMT Beston Global Food Company Ltd (ASX:BFC) announces that it has entered into a Joint Venture with the Sunwah Group ("Sunwah") in Hong Kong for the marketing and distribution of BFC food and beverage products in Hong Kong, Macau and certain parts of Southern China.

In announcing the Joint Venture, the Chairman of BFC, Dr Roger Sexton said that the arrangements which have been put in place, "filled a gap" in the company's Asian distribution platform.

"We are strong in China and the ASEAN region with our own on-the-ground marketing and distribution teams but we lacked a direct presence in Hong Kong and Macau," Dr Sexton said.

Sunwah is one of the largest importers and distributors of food stuffs in Hong Kong, and Macau and has a long standing specialisation in seafood products, in the region. The company was founded in 1957 and now operates one of the most comprehensive logistics and door-to-door delivery services in Hong Kong with services to major hotels, supermarkets, air-catering companies, theme parks, fast food chains and restaurants.

Sunwah also owns and operates restaurants in Hong Kong and the People's Republic of China including the Nishimura Japanese Restaurant chain.

Dr Sexton said that through its long established network of contacts in Hong Kong, BFC had identified and considered a number of different potential joint venture partners in Hong Kong but after an extensive evaluation process had decided to enter into a Joint Venture with Sunwah. This was not only because of the substantial capabilities and highly regarded track record of Sunwah but also because of its focus on business culture, strong ethical practices and community engagement, all of which aligns with the focus and objectives of BFC.

The Chairman of the Sunwah Group, Dr Jonathan Choi, said that Sunwah was very pleased to have formed a formal association with the Beston Global Food Company as the joint venture recognised, and capitalised on, the relative strengths of the two companies.

"Beston has a wide variety of premium quality food and beverage products which are in high demand in Asia. Sunwah has a strong distribution business in Hong Kong and Macau, which has earned a reputation over a period of more than 50 years for the provenance of its products and the quality of service provided to its customers. We share a lot in common. It is a perfect marriage" Dr Choi said.

"Sunwah is very active in both the business and the broader communities in which it operates as I am a firm believer in companies contributing to the societies where they have enjoyed success. I am pleased that the principals of BFC share the same values".

The joint venture will operate as a special purpose company in Hong Kong with 51% of the shares held by Sunwah and 49% by BFC. Sunwah is responsible, under the terms of the joint venture, for utilising its existing distribution channels to market and sell BFC sourced food and beverage products in Hong Kong, Macau, Guangdong and Jiangsu provinces of the PRC. BFC is responsible for providing products from its food and beverage portfolio to the joint venture, along with any supporting product information or technical expertise as may be required from time to time.

Dr Sexton said that the Joint Venture Company will work closely with the BFC China team based in Dalian to maximise the outcomes from their respective efforts to grow the market for BFC products in Hong Kong/Macau and Greater China.

Beston Global Food Company Ltd
E: bgfcipo@bestonpacific.com.au
WWW: www.bestonglobalfoods.com.au

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newsroom@abnnewswire.net
<![CDATA[ AUDIO: Blackmores Limited (ASX:BKL) Interview with CEO Christine Holgate and Bega Cheese Ltd (ASX:BGA) Chairman Barry Irvin ]]> en81391 Y http://www.abnnewswire.net/press/en/81391/ Sat, 31 Oct 2015 14:28:24 GMT AUDIO: Blackmores Limited (ASX:BKL) Interview with CEO Christine Holgate and Bega Cheese Ltd (ASX:BGA) Chairman Barry Irvin.

With the business tie up between Blackmores Limited and Bega Cheese Limited, a synergy between to well known brands is set to provide value for consumers and investors alike.

The Bega Cheese Ltd subsidiary "Tatura" has been manufacturing milk products for many years and is now focusing their technology providing "Life Stage" nutritional products for distribution through Blackmores Ltd.

In a discussion with Christine Holgate and Barry Irvin, the foundation for that business relationship is explained.

To listen to the interview, please visit:
http://www.abnnewswire.net/press/en/81391/bega

Blackmores Limited
Sally Townsend, Head of Brand Communications
T: +61-2-9910-5122
E: stownsend@blackmores.com.au
WWW: www.blackmores.com.au


Bega Cheese Limited
WWW: www.begacheese.com.au

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newsroom@abnnewswire.net
<![CDATA[ Blackmores Limited (ASX:BKL) First Quarter Results Announcement ]]> en81330 Y http://www.abnnewswire.net/press/en/81330/ Thu, 29 Oct 2015 10:15:13 GMT Blackmores Limited (ASX:BKL) has announced a strong first quarter performance with net profit after tax (NPAT) of $22.6 million, up 161% on the prior corresponding period.

Highlights

- Group sales of $162.2 million for the first quarter, up 65% on prior corresponding period

- First quarter net profit after tax of $22.6 million, up 161% on prior corresponding period

- Blackmores enters ASX200

- Partnership with Bega to develop a nutritional rang

The strong sales momentum across the Group continued with sales of $162.2 million for the first quarter, up 65% on the prior corresponding period.

"All Blackmores business units have again delivered strong growth," said Blackmores CEO Christine Holgate. "Sales to Chinese consumers, both directly and through Australian pharmacy partners, are estimated at $55 million for the quarter, or 34% of Group sales. Total Asia sales, at $80 million, are almost 50% of Group sales, highlighting the growing importance of Asia. Even excluding China from our results, our Group sales would be up 18% reflecting the strong momentum across all of our businesses."

The strong cash flows generated in the quarter have supported improved debt levels. This, combined with the benefit of a renegotiated loan facility, has resulted in lower interest payments which further benefited the profit result. Prior to the September dividend payment, the Group held no net debt.

"We're proud that, in the year Blackmores celebrates our 30th year since listing on the ASX, our company joined the ASX200," said Christine Holgate.

Blackmores sales through Australian retailers were $115.4 million, up 76% for the first quarter, compared to the prior corresponding period. This result was driven by sales to Chinese tourists and entrepreneurs as well as strong growth across all channels and a successful consumer promotion in August. Blackmores

New Zealand grew sales by 28% to $3.3 million with increased customer focus as the company transitions to a new distribution model.

Blackmores sales in Asia were $25.4 million, up 55% compared to the prior corresponding period. Korea, Singapore and Hong Kong sales were particularly buoyant with high levels of marketing activity and trade support. Direct sales through our China business were up ten-fold compared to the prior corresponding period. The weaker Australian dollar supported a 5% growth in Thailand's contribution to Group sales. The improved Thai result indicates that this business is starting to recover after two years of retail volatility. Blackmores will invest in additional consumer-facing roles to support their growth.

BioCeuticals sales were $16.6 million, up 28% for the quarter, compared to the prior corresponding period. This sales result was particularly pleasing given a major operational initiative undertaken to relocate the warehouse facility to the Blackmores Distribution Centre at Eastern Creek in NSW. The BioCeuticals Clinical range of evidence-based therapeutic products is gaining a high level of practitioner support and contributing to the overall success of the brand.

"One hundred per cent of the BioCeuticals team voted in support of adopting the Blackmores Enterprise Agreement in August, highlighting the strong cultural alignment between businesses within our Group and the commitment of staff to our strategy," said Christine Holgate.

Blackmores' Animal Health division delivered a sales increase of 63% for the first quarter compared to the prior corresponding period. The Pure Animal Wellbeing brand benefited from an increased marketing investment in Australia and the launch of Mediderm® in Japan after achieving product registration and passing that market's high regulatory hurdles.
The high sales volumes across the Group resulted in new productivity records at the Blackmores Campus at Warriewood. This was supported by the addition of a third production and distribution shift, meaning the facilities are operational 24 hours a day for much of the week. The installation of additional plant equipment also drove efficiencies and increased capacity.

"We remain in a capacity constrained environment and our principal concern is the availability of products for our Australian consumers," said Christine Holgate. "The scarcity of raw materials that meet Blackmores' unrivalled quality standards is resulting in increased costs of many key ingredients and restricting our ability to meet demand."

Blackmores Institute announced the result of a new study, published in the New England Journal of Medicine, showing a 23% risk reduction of new skin cancers through use of a Blackmores vitamin B3 formulation. The results were shared with an audience of 300 healthcare professionals at the Blackmores Institute Symposium in Melbourne last week.

BLACKMORES AND BEGA PARTNERSHIP

Blackmores Limited (ASX:BKL) and Bega Cheese Ltd (ASX:BGA) are establishing an equal share partnership to develop and manufacture a range of nutritional foods, including high quality infant formula, through Bega's subsidiary Tatura.

"Blackmores and Bega are iconic Australian brands and share a long history of producing quality products. Together we have highly complementary experience, Blackmores in health and nutrition and Bega in dairy manufacturing. This experience is matched by a strong alignment on sustainable sourcing and ingredient traceability as well as shared corporate values," said Blackmores CEO, Christine Holgate.

The partnership brings together the experience of each organisation to develop and produce a range of nutritional foods based on an understanding of our consumers in Australia and Asia. Bega will be the exclusive supplier of the Blackmores and Tatura formulations which will be available early in 2016.

"We're developing the range of Blackmores and Tatura products to ensure we have an offering that meets the highest quality standards, with premium ingredients," said Ms Holgate. "We are aware from our presence in the Asia region that there is significant demand for infant formula and we believe that, with the combination of Blackmores and Bega, we're uniquely positioned to support those women unable to breastfeed."

JOINT VENTURE WITH KALBE - KALBE BLACKMORES NUTRITION

Blackmores is pleased to announce the signing of a joint venture with Kalbe Farma, one of the largest healthcare companies in South East Asia, which will facilitate our entry into the Indonesian market. Having a presence in Indonesia is important to our Asia growth strategy and Kalbe is uniquely positioned to work with us with their established distribution capability. The launch of Blackmores in Indonesia is planned for 2016.

OUTLOOK

"We will continue to focus on our strategic priorities: to support our consumers in Australia, grow our business in Asia, demonstrate product leadership and improve our operational effectiveness," said Christine Holgate.

"We are pleased with the progress of the Group in the first quarter and are working to address the supply constraints without compromising our quality. Notwithstanding this limitation, demand continues to grow and we are taking this opportunity to invest in our existing business and to establish new platforms and partnerships to extend our brand and expertise."

"The Board is confident we will achieve strong profit growth for the full year."

Results at a Glance
Results ($000s) Quarter One - ended 30 September 2015

                                       This Year  Last Year  % Change
Sales                                   162,228   98,499     +64.7%

Earnings before interest, tax, 
depreciation and amortisation (EBITDA)   34,871   14,716     +137.0%

Earnings before interest and tax (EBIT)  33,130   13,200     +151.0%

Net interest expense                        373    1,128      -66.9%

Profit before tax                        32,757   12,072     +171.3%

Income tax expense                       10,125    3,416     +196.4%

Profit for the period                    22,632    8,656     +161.5%

MEDIA CONTACT
Sally Townsend
Head of Communications
M: 0419 225 781

Nina Crawford
Senior Corporate Affairs Manager
M: 0401 601 242

INVESTOR CONTACT
Christine Holgate
Chief Executive Officer
+61 2 9910 5186

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newsroom@abnnewswire.net
<![CDATA[ Blackmores Limited (ASX:BKL) and Bega Cheese Ltd (ASX:BGA) Partnership ]]> en81327 Y http://www.abnnewswire.net/press/en/81327/ Thu, 29 Oct 2015 10:01:15 GMT Blackmores Limited (ASX:BKL) and Bega Cheese Ltd (ASX:BGA) are establishing an equal share partnership to develop and manufacture a range of nutritional foods, including high quality infant formula, through Bega's subsidiary Tatura.

Blackmores and Bega are iconic Australian brands and share a long history of producing quality products. Together we have highly complementary experience, Blackmores in health and nutrition and Bega in dairy manufacturing. This experience is matched by a strong alignment on sustainable sourcing and ingredient traceability as well as shared corporate values.

The partnership brings together the experience of each organisation to develop and produce a range of nutritional foods based on an understanding of our consumers in Australia and Asia. Bega will be the exclusive supplier of the Blackmores and Tatura formulations which will be available early in 2016.

We're developing the range of Blackmores and Tatura products to ensure we have an offering that meets the highest quality standards, with premium ingredients. We are aware from our presence in the Asia region that there is significant demand for infant formula and we believe that, with the combination of Blackmores and Bega, we're uniquely positioned to support those women unable to breastfeed.

Barry Irvin 
Chairman, Bega Cheese Ltd. 
Contact: +61 6491 7720 

Christine Holgate
CEO, Blackmores Ltd.
Contact: +61 2 9910 5186

Media contact: 
Sally Townsend 
T: +61-419-225-781

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newsroom@abnnewswire.net
<![CDATA[ Blackmores Limited (ASX:BKL) First Quarter Letter to Shareholders ]]> en81326 Y http://www.abnnewswire.net/press/en/81326/ Thu, 29 Oct 2015 10:01:07 GMT Blackmores Limited (ASX:BKL) has announced a strong first quarter performance with net profit after tax (NPAT) of $22.6 million, up 161% on the prior corresponding period.

Highlights

- Group sales of $162.2 million for the first quarter, up 65% on prior corresponding period

- First quarter net profit after tax of $22.6 million, up 161% on prior corresponding period

- Blackmores enters ASX200

- Partnership with Bega to develop a nutritional range of products

- Joint venture with Kalbe to launch into Indonesia

The strong sales momentum across the Group continued with sales of $162.2 million for the first quarter, up 65% on the prior corresponding period.

All Blackmores business units have again delivered strong growth. Sales to Chinese consumers, both directly and through Australian pharmacy partners, are estimated at $55 million for the quarter, or 34% of Group sales. Total Asia sales, at $80 million, are almost 50% of Group sales, highlighting the growing importance of Asia. Even excluding China from our results, our Group sales would be up 18% reflecting the strong momentum across all of our businesses.

The strong cash flows generated in the quarter have supported improved debt levels. This, combined with the benefit of a renegotiated loan facility, has resulted in lower interest payments which further benefited the profit result. Prior to the September dividend payment, the Group held no net debt.

We're proud that, in the year Blackmores celebrates our 30th year since listing on the ASX, our company joined the ASX200.

Blackmores sales through Australian retailers were $115.4 million, up 76% for the first quarter, compared to the prior corresponding period. This result was driven by sales to Chinese tourists and entrepreneurs as well as strong growth across all channels and a successful consumer promotion in August. Blackmores New Zealand grew sales by 28% to $3.3 million with increased customer focus as the company transitions to a new distribution model.

Blackmores sales in Asia were $25.4 million, up 55% compared to the prior corresponding period. Korea, Singapore and Hong Kong sales were particularly buoyant with high levels of marketing activity and trade support. Direct sales through our China business were up ten-fold compared to the prior corresponding period. The weaker Australian dollar supported a 5% growth in Thailand's contribution to Group sales. The improved Thai result indicates that this business is starting to recover after two years of retail volatility. Blackmores will invest in additional consumer-facing roles to support their growth.

BioCeuticals sales were $16.6 million, up 28% for the quarter, compared to the prior corresponding period. This sales result was particularly pleasing given a major operational initiative undertaken to relocate the warehouse facility to the Blackmores Distribution Centre at Eastern Creek in NSW. The BioCeuticals Clinical range of evidence-based therapeutic products is gaining a high level of practitioner support and contributing to the overall success of the brand.

One hundred per cent of the BioCeuticals team voted in support of adopting the Blackmores Enterprise Agreement in August, highlighting the strong cultural alignment between businesses within our Group and the commitment of staff to our strategy.

Blackmores' Animal Health division delivered a sales increase of 63% for the first quarter compared to the prior corresponding period. The Pure Animal Wellbeing brand benefited from an increased marketing investment in Australia and the launch of Mediderm® in Japan after achieving product registration and passing that market's high regulatory hurdles.

The high sales volumes across the Group resulted in new productivity records at the Blackmores Campus at Warriewood. This was supported by the addition of a third production and distribution shift, meaning the facilities are operational 24 hours a day for much of the week. The installation of additional plant equipment also drove efficiencies and increased capacity.

We remain in a capacity constrained environment and our principal concern is the availability of products for our Australian consumers. The scarcity of raw materials that meet Blackmores' unrivalled quality standards is resulting in increased costs of many key ingredients and restricting our ability to meet demand.

Blackmores Institute announced the result of a new study, published in the New England Journal of Medicine, showing a 23% risk reduction of new skin cancers through use of a Blackmores vitamin B3 formulation. The results were shared with an audience of 300 healthcare professionals at the Blackmores Institute Symposium in Melbourne last week.

BLACKMORES AND BEGA PARTNERSHIP

Blackmores Limited (ASX:BKL) and Bega Cheese Ltd (ASX:BGA) are establishing an equal share partnership to develop and manufacture a range of nutritional foods, including high quality infant formula, through Bega's subsidiary Tatura.

Blackmores and Bega are iconic Australian brands and share a long history of producing quality products. Together we have highly complementary experience, Blackmores in health and nutrition and Bega in dairy manufacturing. This experience is matched by a strong alignment on sustainable sourcing and ingredient traceability as well as shared corporate values.

The partnership brings together the experience of each organisation to develop and produce a range of nutritional foods based on an understanding of our consumers in Australia and Asia. Bega will be the exclusive supplier of the Blackmores and Tatura formulations which will be available early in 2016.

We're developing the range of Blackmores and Tatura products to ensure we have an offering that meets the highest quality standards, with premium ingredients. We are aware from our presence in the Asia region that there is significant demand for infant formula and we believe that, with the combination of Blackmores and Bega, we're uniquely positioned to support those women unable to breastfeed.

JOINT VENTURE WITH KALBE - KALBE BLACKMORES NUTRITION

Blackmores is pleased to announce the signing of a joint venture with Kalbe Farma, one of the largest healthcare companies in South East Asia, which will facilitate our entry into the Indonesian market. Having a presence in Indonesia is important to our Asia growth strategy and Kalbe is uniquely positioned to work with us with their established distribution capability. The launch of Blackmores in Indonesia is planned for 2016.

OUTLOOK

We will continue to focus on our strategic priorities: to support our consumers in Australia, grow our business in Asia, demonstrate product leadership and improve our operational effectiveness.

We are pleased with the progress of the Group in the first quarter and are working to address the supply constraints without compromising our quality. Notwithstanding this limitation, demand continues to grow and we are taking this opportunity to invest in our existing business and to establish new platforms and partnerships to extend our brand and expertise.

The Board is confident we will achieve strong profit growth for the full year.

CHRISTINE HOLGATE
CHIEF EXECUTIVE OFFICER
M: 0409 102 122
INVESTOR CONTACT:
Dee Henz, +61 2 9910 5162

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newsroom@abnnewswire.net
<![CDATA[ Blackmores Limited (ASX:BKL) Full Year Result: Net Profit up 83% ]]> en80754 Y http://www.abnnewswire.net/press/en/80754/ Wed, 26 Aug 2015 10:43:59 GMT Blackmores Limited (ASX:BKL) has announced annual sales of $471.6 million, up 36% compared to the prior corresponding period, delivering a record net profit of $46.6 million for the full year, 83% up compared to the prior corresponding period.

HIGHLIGHTS

- Group Sales of $471.6 million, up 36% on the previous year

- Record net profit after tax of $46.6 million, up 83% on the previous year

- Strong operational cash flows supported net debt down 87% to $7.1 million

- Earnings per share of 270.7cents, up 81.4%

- Final dividend of 135 cents per share, total ordinary dividends for the year were 203 cents per share (fully franked), a 60% increase over last year's dividends

"We are particularly proud that our growth has come from all regions and brands," said Blackmores Chief Executive Officer Christine Holgate. "The higher sales were the culmination of a number of programs we had put in place over recent years including reinvigorating our Australian business, establishing an enterprise in China, investing in our quality and research programs and identifying a strong brand proposition that is supported by a higher level of marketing across the Group."

"Twelve months ago we were reporting pleasing momentum which continued to build as the year progressed. The benefits were further bolstered by operational efficiencies and improvements to the Group's cost base, by leveraging our increased volumes and optimising our Warriewood Campus facility," said Christine Holgate.

"These unprecedented levels of growth, including a 50% sales uplift in the second half, have created supply challenges. Our principal concern has been addressing the needs of our Australian consumers who have loyally supported the Blackmores brand for so many years. We have increased our supply and capacity significantly, whilst remaining focused on maintaining our unrivalled quality and commitment to efficacy and sustainability," she said.

BLACKMORES AUSTRALIA / NEW ZEALAND

Less than two years ago, Blackmores shared its strategic objective to grow the core Australian business profitably. As a result Blackmores Australia grew its profitability by 88% compared to the prior corresponding period, with sales in Australia up 43% to $317.4 million. This was achieved with double digit growth across all sales channels including community pharmacy, and appears to have been boosted by increased demand from Chinese tourists and entrepreneurs.

"We worked to deepen our relationships with retailers and to support consumer pull-through with increased investment in integrated brand activity, more merchandising units and extending our education program," said Christine Holgate. "Blackmores was recently recognised as the Most Trusted Brand in the category for the seventh consecutive year."

The profitability of Blackmores' Australian business has benefited from leveraging the scale of the growing Group as well as improved recoveries from the Warriewood Campus.

Blackmores New Zealand achieved sales growth of 13%, the strongest result since Blackmores has been in the New Zealand market.

BLACKMORES ASIA

Asia is a key region for Blackmores, providing an important platform to secure long-term profitable growth. This growth enables the Group to better leverage capital investments and provides sources of alternative currency that are intended to provide a natural hedge against the cost of raw materials that are sourced from all over the world.

Asia sales were up 26% for the year to $84.0 million, which is double that of five years ago. Earnings before interest and taxes (EBIT) from Asia were up 82% to $8.3 million.

Blackmores Malaysia sales were up 13.5% and EBIT was up 22% to $3.3 million. Thailand continued to be impacted by a soft market with sales down 7% and EBIT down 27%. However, Thailand remains highly profitable, contributing $6.3 million to Group earnings.

"Whilst challenges remain, we have strong local leadership and an experienced team and are optimistic about our future prospects," said Christine Holgate.

Blackmores' smaller markets in the region, Korea, Singapore and Hong Kong have all delivered strong sales results, they have significantly improved profitability and are growing.

Sales to China have multiplied, supported by the Blackmores Wholly Foreign-Owned Enterprise (WFOE) established in 2014. The opening of free trade zones created a substantial opportunity, especially as Blackmores was one of only a few companies in this category to secure a licence to directly trade within the zone.

"As noted, it is apparent that there are a growing number of Chinese shoppers and entrepreneurs purchasing our products through Australian retailers," said Christine Holgate. "By combining the contribution from these consumers with our Asia-based revenues, the value of the region to our Group sales is approximately $150 million for the year. This demonstrates the growing demand for our brand outside Australia and highlights the importance of our Asia growth strategy."

BIOCEUTICALS

BioCeuticals achieved an 18% increase in sales, compared to prior corresponding period, delivering $55.5 million and EBIT of $8.7 million, up 27%.

"When Blackmores acquired this company in 2012, we had expected to reach this target by 2017. This performance validates the strong fit for this company in our Group and is the result of a successful pipeline of innovative new products and a talented team," said Christine Holgate.

"Three years ago shareholders supported our decision to acquire this business which was fully debt funded. I'm pleased to report that every cent borrowed for this has now been repaid. The BioCeuticals team has not only grown its top line, it has made an impressive contribution to our Group earnings and our reputation with practitioners," she said.

For the full results, please visit:
http://media.abnnewswire.net/media/en/docs/ASX-BKL-874591.pdf

To listen to CEO Christine Holgate, please visit:
http://www.abnnewswire.net/press/en/80756/blackmores

MEDIA CONTACT
Sally Townsend
Head of Communications
M: 0419 225 781

INVESTOR CONTACT
Christine Holgate
Chief Executive Officer
+61 2 9910 5186

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<![CDATA[ AUDIO: Blackmores Limited (ASX:BKL) CEO Christine Holgate Discusses the Full Year Results ]]> en80756 Y http://www.abnnewswire.net/press/en/80756/ Wed, 26 Aug 2015 10:32:06 GMT Blackmores Limited (ASX:BKL) CEO Christine Holgate Discusses the Full Year Results.

Having recently celebrated the 30th year of Blackmores as an Australian publicly listed company, the company announced a record sales and profit result for the Group and the highest ever returns for our shareholders.

Group sales of $471.6 million were 36% up on the prior year which delivered a $46.6 million profit, an increase of 83% on the prior year's profit. The solid financial results enabled us to continue to improve our balance sheet with strong cash flows delivering low debt.

As the leader of this team, I am particularly proud that our growth came from all regions and brands. Twelve months ago we were reporting pleasing momentum, which continued to build as the year progressed. The benefits were further bolstered by operational efficiencies and improvements to the Group's cost base, by leveraging our increased volumes and optimising our Warriewood Campus facility.

The higher sales were the culmination of a number of programs we had put in place over recent years including reinvigorating our Australian business, establishing an enterprise in China, investing in our quality and research programs and identifying a strong brand proposition that is supported by a higher level of marketing across the Group.

Consumers, both in Australia and Asia, have a clear preference for high quality products with proven efficacy. Supported by improved trade relations between Australia and several markets in Asia, demand for Blackmores products grew as our marketing message resonated with customers locally.

Our unprecedented levels of growth (including a 50% sales uplift in the second half) have created supply challenges. Our principal concern has been addressing the needs of our Australian consumers who have loyally supported the Blackmores brand for so many years. We have increased our supply significantly, whilst remaining focused on maintaining our unrivalled quality and commitment to sustainability.

Our continued focus has been aligned to the four strategic priorities we committed to deliver at the start of the financial year:

- Support Blackmores Australia to build our brand and return the business to profitable growth

- Invest in BioCeuticals, Blackmores Asia and Pure Animal Wellbeing to continue to diversify our business and build new sources of growth

- Build our product leadership position through the valued research and knowledge within Blackmores Institute and a program of product range innovation

- Continue to improve operational effectiveness and transform our cost profile

Financial and Operational Highlights

- Group Sales of $471.6 million, up 36% on the previous year

- Record net profit after tax of $46.6 million, up 83% on the previous year

- 170 new product launches and range extensions

- Seventh consecutive year as Most Trusted Brand* in our category

- Net debt decreased by 87% to $7.1 million

- Almost doubled operating cash flow

- Net assets per share increased by 38% to $5.27

- Earnings per share of 270.7cents, up 81.4%

* Reader's Digest Most Trusted Brand Survey

To listed to the Audio Interview, please visit:
http://www.abnnewswire.net/press/en/80756/blackmores

Tel: +61-2-9910-5000
Fax: +61-2-9910-5555
Web: www.blackmores.com.au

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