Vitamin group Blackmores has scrapped its first-half dividend after a dramatic 48 per cent slide in profits and warned the second half will be even worse because of three months of disruption from the coronavirus outbreak, and upheaval at a Melbourne factory.
Shares in the company, which in early 2016 were at $220, slumped by 20 per cent at the opening of trade as it emerged from a two-day trading halt and by the close on Wednesday were down 13 per cent to $78.
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Simon Evans writes on business specialising in retail, manufacturing, beverages, mining and M&A. He is based in Adelaide. Connect with Simon on Twitter. Email Simon at simon.evans@afr.com
