Blackmores Boss To Australia Post

Blackmores shares dropped more than 5% at one stage yesterday on the news CEO, Christine Holgate will leave the vitamins and supplementary products company in September to head up Australia Post. Blackmores shares fell to a day’s low of $89.95 before bouncing to close down 4.4% at $89.81. That took the year’s loss so far to more than 13%.

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Blackmores Endures Setback, Long-Term Health Intact

Health product manufacturer Blackmores (BKL) sustained a weak September quarter, with sales down 8.1% and net profit down 46.6%. The latter was the element that disappointed many brokers as it signalled significant operational de-leveraging. Sales momentum is becoming more positive and a better second quarter is expected but the company does not expect to match the FY16 performance, suggesting profit will be lower in FY17.

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Blackmores Booms

Vitamins group, Blackmores has been a headline grabber in the past year as its shares surged past $220 at the start of the year on strong demand for its products from Chinese buyers and moves by the company to enter the baby formula business.

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Increased Competition No Big Deal For Blackmores

Healthcare and Life Sciences analysts at ABN Amro Morgans point out the sale of Primary Healthcare’s (PRY) consumer operations to Sanofi-Aventis is likely to have an impact on Blackmores ((BKL)). The company currently has a market share of around 22% of the $1bn market in Australia for vitamins, mineral and foodsupplements and the analysts believe annual growth of this market is around 6-7%.

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