UPDATE 3-Vitamin maker Blackmores sounds alarm on China demand health, shares hammered [Reuters]
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Source: Reuters
UPDATE 3-Vitamin maker Blackmores sounds alarm on China demand health, shares hammered * Weaker China sales to hurt profit in second half * Blackmores says it is reviewing operations in China * Shares mark biggest daily percentage drop since 1985 listing (Recasts on China review, updates shares) By Byron Kaye SYDNEY, Feb 19 (Reuters) - Australian vitamin maker Blackmores Ltd said it would review its China business and issued a surprise profit warning, citing soft consumer demand on the mainland, sending its shares down the most since listing three decades ago. The sharp sales reversal for Blackmores, which raked in double-digit growth last year on exploding China demand, makes it Australia’s first casualty of a slowdown in the world’s No.2 economy that is also scalding businesses worldwide. Just last month, tech behemoth Apple issued a rare revenue warning citing weaker demand for its iPhones in China. Many others have followed suit since then to complain about slower China demand. Bl
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