Asian sales boost Blackmores result

Sydney-based supplement maker Blackmores posted a slight increase for the year to June 30, assisted by strong growth in Thailand and Malaysia.

Blackmores’ net profit was up 1.8% on the previous year, thanks largely to strong Asian demand.

“We have tripled our points of distribution in Asia throughout the year and recently began our launch into China through a number of retail channels including China's biggest e-commerce platform,” Blackmores CEO Christine Holgate told AAP.

Malaysia’s Bernama reports that Blackmore’s profits were up 59% in Malaysia and 31% in Thailand, despite flooding in the latter that year.

Despite overall net profit being up $27.8 million, Blackmores executive incentive payments took a hit.

“Our remuneration structure is strongly linked to achievement of year-on-year growth and shareholder returns,” chairman Marcus Blackmore told the Sydney Morning Herald.

“Accordingly, our short-term incentive payments were down by 66 per cent, long-term incentives were not awarded and, at the most recent review, in June 2012, there were no increases granted for executive team salaries and directors' fees.”

 

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