The Blackmores Limited (ASX: BKL) share price rose almost 6.5% today, it was a top performer in the ASX 200.
Blackmores describes itself as Australia’s leading natural health company. Maurice Blackmore founded the company in the 1930s. Blackmores has a number of different brands, not just the well-recognised Blackmores brand. It operates BioCeuticals, the Blackmores Institute, Fusion Health & Oriental Botanicals, Impromy, IsoWhey and Pure Animal Wellbeing (PAW).
Blackmores Share Price Rises 6%
The Blackmores share price rose 6% with investors having a second think about the value on offer after the vitamin business reported its numbers for the third quarter of FY19 to March 2019.
Blackmores said that the March 2019 quarter showed net profit was down 43% to $10 million with revenue down by 4% to $141 million.
The first nine months of FY19 for Blackmores showed that profit was down 14% to $44 million, although revenue was up 6% to $460 million.
Blackmores Interim CEO Marcus Blackmore said: “The third quarter has been challenging for the company. However, we firmly believe that this result does not reflect the long-term growth potential of the business.
“We are committed to a major streamlining of the business – to simplify and improve our processes and structure.” So, clearly management think there are better times ahead.
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Disclaimer: Any information contained in this article is limited to general financial/investment advice only. The information has not taken into account your specific needs, goals or objectives, so please consider consulting a licenced and trusted adviser before acting on the information. Please read The Rask Group’s Financial Services Guide (FSG) for more information. This article is authorised by Owen Raszkiewicz of The Rask Group, which is a corporate authorised representative No. 1264179 of Strawman Pty Ltd (ACN: 610 908 211) (AFSL: 501 223).
At the time of publishing, Jaz does not have a financial interest in any of the companies mentioned.