Blackmores Ltd on Wednesday scrapped its dividend and said it expects this year&...
) on Wednesday scrapped its dividend and said it expects this year’s profit to more than halve as the coronavirus hit its supply chain, sending the Australian vitamin maker’s shares to a near one-year low.
Blackmores will now have to tweak their operations in China as the epidemic has hindered movement of products to and within the country as a determined Chinese government scrambles to stem the spread of the virus. China’s strong demand for vitamins health products had fueled double digit annual sales growth at the company and made its shares very attractive, but Blackmores has recently struggled with Beijing’s tougher import rules.
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