Biotech market spotlight: Blackmores
Friday, 30 October, 2009
Natural vitamin and supplement company, Blackmores (ASX:BKL) has enjoyed another strong year of revenue and profit growths despite the global financial wobbles and a strengthening Australian dollar.
In an announcement made to its shareholders recently, it revealed revenues for the last financial year were up 12 per cent to $200 million, and after tax profits were up 9% to $20.8 million.
The first quarter of this financial year saw revenues go up by 17 per cent, although after tax profits fell by 4.1 per cent to $6.9 million.
Growth in Asia has been strong over the past financial year, aided by concerns over swine flu. Sales in Asia grew by 37 per cent in FY2009 compared to 14 per cent in Australia and 7 per cent in New Zealand.
Blackmores also launched seven new products, including a range targeted at children and a new Heart Health range this quarter, and has more products it aims to release this financial year.
Blackmores was up 7 per cent, or $1.45, to $22.15 in today's trading, which is only 55c shy of an 18 month high.
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