Blackmores shares hit with a big full year miss
Blackmores (BKL) –14.85%: Another weak update from BKL with underlying profit at $55m for the full year v $60m expected. Top line sales the issue with revenue coming in at $610m, a long way below expectations of $752m and below the most bearish analyst expectations (range was $628m-$798m). The dividend was short of expectations and they gave no real guidance for FY20, other than to say conditions will remain challenging. Existing market expectations for FY20 were for flat top line growth but better cost management leading to a +10% increase in profits – a tough ask now.
Blackmores (BKL) Chart
