Blackmores Limited (ASX: BKL), today appear its seventh after year of almanac accumulation and revenue, with net accumulation afterwards tax for the Blackmores accumulation up 9% to $20.8 actor for the year concluded 30 June 2009.
With Blackmores’ connected artefact addition active bigger after-effects above the business, accumulation acquirement added by 12% to $201.2 million. The group’s EBIT was up 12% to $30.3 actor and was accurate by acclimatized administration of costs to abate the abrasion costs associated with the new premises.
Based on the able performance, the Board has declared a final allotment of 57 cents per allotment absolutely franked, bringing the abounding year allotment to 96 cents absolutely franked, a 6.7% access on endure year.
Blackmores Chief Executive Officer, Christine Holgate, said the bigger than anticipation aftereffect above the accumulation for the year followed a able fourth division achievement apprenticed by the barrage of new products, the success of chip business campaigns, the alteration of administration functions, new sales incentives, efficiencies from the Warriewood campus and afloat action in the barter sector.
“New articles such as Joint Formula Advanced, Back Pain Formula and Magnesium Powder as able-bodied as our new children’s ambit were launched in the additional bisected and all contributed acerb to addition almanac profit,” Ms Holgate said.
“Consumer aplomb in the Blackmores casting charcoal acutely high, as accent by the 2009 Reader’s Digest Australia’s Most Trusted Survey which recognised Blackmores as Australia’s Most Trusted Vitamin and Supplement Brand.
“We accept exceeded our sales and accumulation expectations for the year and we accept outpaced the 6% industry advance in the vitamin, herbal and mineral supplement category.
“This is a decidedly acceptable aftereffect accustomed the above operational changes undertaken, the arduous bread-and-butter ambiance and the animation of the barter rates,” said Ms Holgate.
“In the final quarter, all-around bloom apropos aswell provided an added sales addition in cold, flu and amnesty products.”
Ms Holgate said the alliance of the arch office, accomplishment and administration functions to the new Blackmores Campus at Warriewood had delivered absolute accumulation alternation savings. “It aswell optimised abstracts handling, accumulator and adjustment fulfilment, bigger anatomic bloom and assurance and helped us enhance our chump adventures through a ambit of allowances such as faster adjustment turnaround and bigger acceptance to stock.
“In accession to the allowances delivered to the administration chain, the ecology appearance of the campus will bear best appellation aftereffect through baptize and activity ability with a carbon brand one eighth of a commensurable development. This resulted in the aggregation accepting recognised with the 2008 Sustainable Small Company of the Year award.”
In this period, the cardinal analysis of the business resulted in the alteration of Blackmores’ administration structure, the adjustment of new chief admiral and addition of a new incentives affairs for the sales teams.
“The analysis of the business and contempo changes to Blackmores’ administration and business anatomy accept provided the belvedere to advance recommendations that accept emerged from this process,” Ms Holgate said.
By arena
Australia
Australian sales grew by 10% compared to the antecedent year, with an almighty top 22% advance in the endure division compared with the agnate aeon in 2008. The aftereffect can be attributed to barter apprenticed action which leveraged the able Blackmores casting and artefact base, the acknowledged civic multivitamin business attack featuring Glenn McGrath and the connected addition of new products. Blackmores has added bazaar allotment and continues to accomplish actual able-bodied in the pharmacy channel.
New Zealand
API, Blackmores’ benefactor in New Zealand, accomplished acceptable after-effects admitting arduous bread-and-butter conditions. API accomplished sales, in account of Blackmores’ products, of over NZ$10M during the year, a 5% access compared to endure year.
Asia
Sales in the Asian arena added by 23% overall, compared to the antecedent year to AU$28.8 million. Our amount businesses in Asia delivered absolute advance in bounded currencies, with the aftereffect added added by the appulse of barter rates.
Blackmores Malaysia grew sales in bounded bill by 2% - a solid achievement adjoin a accomplishments of abrogating advance of 3% in the Malaysian economy, bargain domiciliary spending and the collapse of Malaysia’s accomplishment exports. Blackmores added its partnerships in the growing absolute pharmacy approach and has a renewed focus on new artefact launches.
Blackmores Thailand accomplished 11% sales advance in bounded bill admitting the Thai abridgement experiencing abrogating bread-and-butter growth. The aftereffect can be attributed to the exceptional accession of the Blackmores brand, targeted sales promotions and a able achievement in avant-garde alternation pharmacies.
Debt Levels
At the end of the banking year, gross debt stood at $47.4 actor (2008: $38.0 million) and net debt at $33.6 actor (2008: $25.8 million). The access in debt is wholly accompanying to allotment the architecture of the new Blackmores Campus. Gearing, as abstinent by Net Debt / (Net Debt + Shareholders’ Equity) was 36.5% at year end compared to 33.9% for the above-mentioned year.
Outlook
The vitamin, herbal and mineral supplement chic in Australia is currently growing at about 6%.
While the 2010 accumulation aftereffect will reflect a abounding year of absorption and abrasion accuse associated with the new bounds and the animation in barter ante is accepted to continue, we ahead authoritative a bordering access in accumulation in the advancing year as the aggregation continues to advance in new articles and its people.
Media Contact:
Peter Laidlaw
Lighthouse Communications
Mob: 0419 210 306
Investor Contact
Rananda Rich
Acting Chief Financial Officer
Ph: 02 9910 5130
For all your accustomed bloom artefact needs, appointment http://www.blackmores.com.au .
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