UPDATE 2-Australia's Blackmores flags weaker H2 as China sales slow, shares crash [Reuters]
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Source: Reuters
UPDATE 2-Australia's Blackmores flags weaker H2 as China sales slow, shares crash | Reuters 3 Min Read * Weaker China sales to hurt profit in second half * Blackmores says it is reviewing its operations in China * Shares mark biggest daily percentage drop since 1985 listing (Recasts with outlook, adds shares, comments) By Byron Kaye SYDNEY, Feb 19 (Reuters) - Australian vitamin maker Blackmores Ltd cautioned that weak sales in China, its biggest export market, will drag on its net profit in second half of the year, driving down its shares the most since the company listed three decades ago. The vitamin maker, which has benefited from exploding Chinese demand for Australian health products, said sales to the mainland fell more than a tenth in the six months to December, and the pattern was continuing partly due to “a general softening of consumer sentiment”. Full-year revenue is expected to be “modest”, it warned, even as the beachside Sydney-based company turned in a record first-half
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