Vitamins shoppers head to supermarket not pharmacy
Key Points
- Revenue ($m): 575.9, up 1.3pc
- Pre-tax profit ($m): 42.3, up 120.4pc
- Net profit ($m): 28.6, up 89.4pc
- Dividend (c): 42, up from nil
The chief executive of vitamins group Blackmores says there has been a shift in consumer behaviour where people are buying vitamins from the supermarket rather than the local pharmacy in the pandemic.
Alastair Symington said this was one of the reasons why the company’s Australasian business suffered a 14 per cent slide in revenues for 2020-21 to $281 million, along with the absence of international tourists and daigou traders who previously bought large volumes in Australia and then selling them on e-commerce sites in China.
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