Blackmores Limited (ASX: BKL) – Rocketing on 19% growth in profit

Blackmores Limited – Rocketing on 19%

Blackmores share price jumped up $16.24 after the company announced 19% hike in profit, thus delivering $70 million NPAT for the financial year ended 30 June 2018.

Blackmores, (ASX: BKL) engaged in development, sales and marketing of health products has launched 158 new products across the group while strengthening its digital platform and retail partnerships during the past one year.

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Revenue has increased 9% to $601 million, with the record sales in June from Asia region. Group’s earnings before interest and tax grew 18% to $102 million in FY18.

The Board of Directors has announced fully franked final dividend of 155 cents per share, which takes FY18 total dividend to 305 cents per share, up 13% on FY17. The final dividend is payable on 12 October 2018 to the shareholders registered on the record date of 27 September 2018. Earnings per share was 406.4 cents per share in FY18.

The company has inked the deal with Probiotec Limited to acquire their IMPROMY brand for all cash transaction of $9 million. IMPROMY is a leading consultation-based health and weight loss program that was co-developed by Probiotec with the CSIRO.

Blackmores’ stock is trading at $161.49 with the daily percentage price change of +11.18% on 28 August 2018 (4:28 PM AEST).

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