Australia's Blackmores annual profit tanks on virus hit

Australia's Blackmores Ltd on Tuesday scrapped its final dividend and reported a 66.2% slump in full-year profit as the coronavirus crisis disrupted the vitamin maker's supply chain and hit sales to China.

Aug 25 (Reuters) - Australia's Blackmores Ltd BKL.AX on Tuesday scrapped its final dividend and reported a 66.2% slump in full-year profit as the coronavirus crisis disrupted the vitamin maker's supply chain and hit sales to China.

The company reported a net profit attributable of A$18.1 million ($13 million) for the year ended June 30, down from A$53.5 million a year earlier, but in line with its lowered forecast of between A$17 million and A$21 million.

($1 = 1.3961 Australian dollars)

(Reporting by Shashwat Awasthi in Bengaluru; Editing by Shinjini Ganguli)

((Shashwat.Awasthi@thomsonreuters.com))

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

Reuters

Reuters, the news and media division of Thomson Reuters, is the world’s largest international multimedia news provider reaching more than one billion people every day. Reuters provides trusted business, financial, national, and international news to professionals via Thomson Reuters desktops, the world's media organizations, and directly to consumers at Reuters.com and via Reuters TV.

Learn More