Australia's Blackmores slides on lack of FY23 outlook

Blackmores

18/08/2022 06:06

** Shares of Australia's health supplement manufacturer
Blackmores Ltd  BKL.AX  slump as much as 10.9% to A$72.560,
their biggest intraday pct fall since Feb. 25, 2022
    ** Co posted a 22.6% increase in FY underlying net profit
after tax to A$31.1 mln ($21.52 mln)  urn:newsml:reuters.com:*:nASX9Xyhy
    ** FY revenue increased 12.8% to A$649.5 mln; declares final
dividend of 32 Australian cents per share
    ** Analysts at Ord Minnett say BKL's results were "broadly
in line" with their forecast, with revenue and underlying NPAT
missing brokerage's estimates by 1% and 2%, respectively
    ** Brokerage sees lack of quantified earnings outlook and co
highlighting that the H1 result benefited from some one-off
surge demand as key negatives
    ** Brokerage also sees downside risk to current market
expectations given lack of quantified guidance for FY23 and
general decline in consumer confidence
    ** Shares hit their lowest since July 19; as of last close,
stock down 10.8% this year

($1 = 1.4449 Australian dollars)

 (Reporting by Himanshi Akhand in Bengaluru)
 ((Himanshi.Akhand@thomsonreuters.com;))