ABN Newswire http://www.abnnewswire.net Sun, 30 Aug 2015 16:02:43 newsroom@abnnewswire.net newsroom@abnnewswire.net 60 <![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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<![CDATA[ Blackmores Limited (ASX:BKL) Wins Australia China Business Award ]]> en80078 Y http://www.abnnewswire.net/press/en/80078/ Mon, 1 June 2015 12:04:12 GMT Blackmores Limited (ASX:BKL) has been awarded the Australia China Business Award for Sustainability and Social Impact at a gala event in Hong Kong.

The award recognised Blackmores for its outstanding implementation of policies and initiatives that demonstrate corporate social responsibility, leadership and commitment to environmental sustainability or social impact in Greater China over the past year.

As well as promoting optimal nutrition and health programs, Blackmores has demonstrated a strong commitment to environmental consciousness through packaging initiatives and sustainable sourcing.

Blackmores Asia Managing Director, Mr Peter Osborne, commended the dedicated team who have supported the presence of Australia's leading natural health brand in Hong Kong for the last 20 years and in China since 2012:

"Our team have embraced the values that have supported the Blackmores brand in Australia for more than 80 years and these have been warmly received by a growing number of consumers in Asia,' said Peter Osborne. "We are so proud to receive this award because it recognises our commitment to the community and the environment."

The Australia China Business Awards were attended by the Chief Executive of Hong Kong SAR, the Australian Ambassador and Consul-General and leading Australian businesses operating in China, Hong Kong and Taiwan.

Sally Townsend
Head of Communications
Blackmores
M:  +61 2 419 225 781

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<![CDATA[ AUDIO: Blackmores Limited (ASX:BKL) Confirms Strong Third Quarter and Expects a Record Full Year profit ]]> en79844 Y http://www.abnnewswire.net/press/en/79844/ Wed, 29 Apr 2015 14:27:55 GMT Blackmores Limited (ASX:BKL) has reported Group sales of $326 million for the nine months to 31 March 2015, up 28% compared to the previous corresponding period. Net profit after tax was $31 million, up 76% for the nine month period. This is consistent with the investor update released by Blackmores on 30 March 2015.

In an audio interview, Christine Holgate, Blackmores CEO, outlines the company performance and strengths that achieved these results. Listen to the audio interview here:
http://www.abnnewswire.net/press/en/79844/blackmores

Highlights

- Group sales for the nine months to 31 March of $326 million, up 28% compared to prior corresponding period.

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

- Record third quarter driven by strong performances across the Group.

- Blackmores expects a record full year profit.

"We are extremely pleased that the momentum in our business has continued," said Blackmores Chief Executive Officer, Christine Holgate. "This was driven by strong performances across the Group."

"The third quarter results show a continuation of the sales momentum that we have experienced across the Group with a 42% increase in quarterly sales and 125% increase in profit compared to the third quarter last year."

"In May, we celebrate the 30th year anniversary of Blackmores as an ASX-listed public company and we are delighted to commemorate this milestone with good financial results."

Blackmores Australia year to date sales growth, at 35%, was boosted by strong pharmacy sales and the benefit of a growing demand for Blackmores products from Chinese consumers. The Blackmores Australia team is further strengthened by the appointment of Mr Paul Di Vito as Chief Marketing Officer.

BioCeuticals continued to deliver innovative new products across both the BioCeuticals and IsoWhey brands which supported sales growth of 23% in the third quarter compared to the previous corresponding period.

The recent BioCeuticals Research Symposium attracted more than 350 health care professionals for a three day conference and masterclass series. It reflected the position of the practitioner-only brand as a thought leader in evidence-based integrative medicine with overwhelmingly positive participant feedback about the quality of education at this event.

"We are delighted to have partnered with influential Chinese tennis legend Li Na who will work with Blackmores on health and nutritional initiatives," said Christine Holgate. The ambassadorship was announced in Shanghai in April.

Blackmores sales in Asia are up 43% in the third quarter compared to the same period last year driven by strong performances from Malaysia, Singapore, China, Hong Kong and Korea whilst Thailand continues to face some market challenges.

"The growing demand for Blackmores' high quality premium Australian products is reflected in our sales results," said Christine Holgate. "We have worked hard to significantly increase our inventory to minimise the impact on consumers when product lines are out of stock. We encourage consumers who have been inconvenienced by certain products being unavailable to contact Blackmores Customer Service for assistance."

Blackmores' Operations are adapting to the increased sales rate with a record 2.2 million units produced at the Blackmores Campus in March and 2.75 million units picked and shipped in the same month. These high volumes support improved recoveries of fixed costs and continue to benefit our cost of goods which can be seen in our improved earnings before interest and tax (EBIT) at $47 million for the nine months, up 67% compared to the prior corresponding period.

"This strong performance continues to support an improving cash and debt position, with interest charges down 38% in the third quarter," said Christine Holgate.

OUTLOOK

"We have strong momentum in the business driven by benefits from programs that we have been establishing and investing in over recent years including a vibrant presence in Asia, a respected practitioner brand and our heartland consumer business in Australia," said Christine Holgate. "Our recent demand has been supported by the operational and quality programs at the Blackmores Campus which are adapting to the high volumes we are experiencing and we will continue to invest in our facilities to meet growing consumer demand."

"This success confirms the Board's confidence in our business strategy and shareholders can expect the current year to date growth to continue and deliver a record full year profit for the Blackmores Group."

To view the results, please visit:
http://media.abnnewswire.net/media/en/docs/79844-ASX-BKL-854760.pdf

Audio Interview:
http://www.abnnewswire.net/press/en/79844/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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newsroom@abnnewswire.net
<![CDATA[ Blackmores Ltd (ASX:BKL) Confirms Continued Growth ]]> en79649 Y http://www.abnnewswire.net/press/en/79649/ Mon, 30 Mar 2015 17:07:30 GMT Following today's Board Meeting, Blackmores Ltd (ASX:BKL) has announced continued strong sales growth for the third quarter.

Group sales for the third quarter are expected to close around 10% higher than the previous quarter of this financial year.

The Board estimates that this pleasing growth will deliver a third quarter net profit after tax increase of around 20% on the previous quarter of this financial year.

The company expects to announce the third quarter financial results on 28 April 2015.

Media contact:
Sally Townsend
Head of Communications
M: 0419 225 781

Investor contact:
Christine Holgate
Chief Executive Officer
M: 0409 102 122

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<![CDATA[ AUDIO: Blackmores Ltd (ASX:BKL) CEO Christine Holgate on the Half Year Report and Company Strategy ]]> en79434 Y http://www.abnnewswire.net/press/en/79434/ Thu, 26 Feb 2015 16:29:34 GMT AUDIO: Blackmores Ltd (ASX:BKL) CEO Christine Holgate on the Half Year Report and Company Strategy.

Christine has over 29 years of international sales and marketing experience in highly regulated industries, including telecommunications, finance, media and healthcare. Christine was appointed to her current role as Chief Executive Officer by the Board in November 2008.

She has held numerous board and senior management positions, working in Europe, Asia, the Americas and Australia. Christine's prime responsibilities have been leading teams through significant change, growth and start-up. Christine has three postgraduate diplomas in Management, Marketing, and Purchasing and Supply; and a Master's Degree in Business Administration (MBA). Christine is also a Non-Executive Director for Ten Network Holdings Limited.

Christine was awarded the 2011 (inaugural) International Executive Study Scholarship by Chief Executive Women and the Women's Leadership Institute Australia, and was honoured with the Rotary Paul Harris Award in 2013.

To listen to the Audio Webcast, please visit:
http://www.abnnewswire.net/press/en/79434/blackmores

Blackmores Limited
WWW: www.blackmores.com.au/

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<![CDATA[ Record Half Year Profit for Blackmores Limited (ASX:BKL) ]]> en79430 Y http://www.abnnewswire.net/press/en/79430/ Thu, 26 Feb 2015 13:14:18 GMT Blackmores Limited (ASX:BKL) has reported first half group sales of $206.4 million, 22% up on the prior corresponding period. This delivered a net profit after tax for the first six months of the year of $18.6 million, 54% up on the prior corresponding period and a record result for the Group.

Highlights

- Record half-year sales of $206.4 million, up 22% on the prior corresponding period

- Record half-year net profit after tax of $18.6 million, up 54% on the prior corresponding period

- Improved working capital at $29 million, up 118% compared to prior corresponding period and cash conversion at 118%

- Interim dividend of 68 cents per share fully franked, a 55% increase

- Directors have suspended the Dividend Reinvestment Plan

"This is a very encouraging result that was achieved with all regions and brands in the Blackmores Group delivering strong year on year growth," said Blackmores Chief Executive Officer, Ms Christine Holgate. "It has positioned us well for the second half whilst enabling us to build a strong balance sheet."

"Importantly, we are delivering against our four key strategic priorities: to be increasingly consumer centric and grow our Australian business; invest in growth in Asia; leverage knowledge within the Blackmores Institute and drive further product innovation; and improve our operational effectiveness," said Ms Holgate. "The progress of these key initiatives has underpinned the Group's results."

Earnings before interest and tax (EBIT) increased by almost 50% to $28.2 million compared to the prior corresponding period, as the higher sales enabled Blackmores to benefit further from leveraging its existing assets.

Strong sales and a continued focus on cash management improved net debt, which reduced from $54.4 million to $36.7 million in the half and further strengthened Blackmores' balance sheet.

"BioCeuticals sales were up by 17% and their EBIT lifted by 40% compared to the previous corresponding half, demonstrating the benefits of the strategic focus on high quality, evidence-based products for practitioners. The performance of BioCeuticals since acquisition in June 2012 gives us confidence in our considered approach to growing the Group," said Ms Holgate.

"Blackmores Australia sales were up 29% boosted by stronger pharmacy sales and the benefit of a growing demand for Blackmores products from Chinese consumers. This gives us confidence in the importance of our Asia growth strategy," said Ms Holgate. "As a result of our strong growth and the significant operational benefits delivered, our Australian business grew EBIT by 61% compared to the same period last year."

"Blackmores Asia delivered a 5% sales increase and a 15% decline in EBIT reflecting the continued retail challenges in Thailand. Excluding Thailand, the region grew sales by 17% including a new record for Blackmores Malaysia," said Ms Holgate. "In Thailand we have a solid marketing and sales plan for the year and we have increased confidence in our medium term prospects in this market."

"Blackmores' wholly foreign-owned enterprise in China will support future growth in the region. Additionally, the opening of a free trade zone in China last November presents another opportunity for Blackmores, particularly as we have secured a licence to directly trade within the zone," said Ms Holgate.

Blackmores.com.au was refreshed in the period with a new design on a platform which will offer more potential to enhance consumer engagement and make it easier to navigate products online.

Blackmores' new easier-to-open, sustainable, improved shelf-life, stronger bulk pack has been awarded a WorldStar Packaging Award, the most prestigious prize in the global packaging industry. Blackmores' innovative design also won gold, silver and bronze medals across three categories at the Australian Packaging Design Awards.

The Australian Parliament yesterday recognised the importance of complementary medicines to the international health landscape and acknowledged the achievements of the National Institute of Complementary Medicine (NICM) as Australia's premier research facility in complementary medicine. This was significant recognition as NICM is a key collaborator with the Blackmores Institute.

KEY APPOINTMENTS

"I'm pleased to announce the appointment of two senior female managers in our Asia business. Ms Pussadee Suchitchon joins as the General Manager of Blackmores Thailand and Ms Jin Young Kim as the General Manager in Korea. Both individuals bring strong industry and management experience in their respective markets along with a breadth of expertise and qualifications in health and nutrition."

"Mr Aaron Canning has been appointed as our new Chief Financial Officer," said Ms Holgate. "Aaron has extensive management experience in Asia, New Zealand and Australia which is a great fit for our growing business. Mr Chris Last has stepped down as CFO and joint Company Secretary and Aaron Canning has also been appointed as joint Company Secretary for Blackmores Limited with Ms Cecile Cooper. I would like to pass on my sincere thanks to Chris Last for his valued contribution as CFO over the last five years."

DIVIDEND

The Board has declared an interim dividend of 68 cents per share fully franked, a 55% increase on last year. The record date is 25 March 2015 and the dividend is payable on 13 April 2015.

"This improved dividend rewards our shareholders who have shared our confidence in Blackmores' future prospects," said Ms Holgate.

DIVIDEND REINVESTMENT PLAN

Given the Company's significantly improved financial position, the Board has decided to suspend the Dividend Reinvestment Plan until further notice. Blackmores will add any residual cash balance standing to the account of existing participants when this dividend is paid.

OUTLOOK

Directors are very pleased with the first half performance of the Group and are confident about delivering shareholders a strong full year return.

INVITATION TO SHAREHOLDERS

MEET THE BLACKMORES MANAGEMENT TEAM - 21 MAY 2015

Blackmores would like to invite you to our second annual 'Meet the Management Team' event at our Company headquarters in Sydney.

This exclusive shareholder-only event will give you the unique opportunity to better understand how we work and gain deeper insight into our business. There will be no formal business matters.

Date: 21 May 2015

Time: 10am to 12pm, followed by a light lunch

Address: Blackmores Campus, 20 Jubilee Avenue, Warriewood NSW 2102

To attend, please contact Leah Boonthanom on 02 9910 5347 or email leahb@blackmores.com.au.

For those unable to attend, full details will be made available on the ASX and Blackmores' websites.

To view the Results, please visit:
http://media.abnnewswire.net/media/en/docs/79430-ASX-BKL-845000.pdf

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[ Blackmores Ltd (ASX:BKL) Confirms Strong First Half ]]> en79124 Y http://www.abnnewswire.net/press/en/79124/ Mon, 19 Jan 2015 19:46:51 GMT Blackmores Ltd (ASX:BKL) today announced a strong close to Group sales at $206 million for the half ended 31 December 2014, up 22%, compared to the previous corresponding period.

The Board estimates that this pleasing result will deliver a first half profit around 50% above last year's first half profit.

The company expects to make a full announcement of the half-year financial results on 26 February 2015 when the audit process has been finalised.

Media contact:
Sally Townsend
Head of Communications
M: 0419 225 781

Investor contact:
Christine Holgate
Chief Executive Officer
M: 0409 102 122

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