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BRIEF-Blackmores Says Challenging Trading Conditions In China To Continue During H1 2020

Published 15/08/2019, 12:06 pm
© Reuters.  BRIEF-Blackmores Says Challenging Trading Conditions In China To Continue During H1 2020
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Aug 15 (Reuters) - Blackmores Ltd BKL.AX :

* FY SALES IN CHINA SEGMENT, COMPRISING KEY EXPORT ACCOUNTS AND IN-COUNTRY SALES WERE $122 MILLION, DOWN 15%

* H2 OF FY20 EXPECTED TO BENEFIT FROM OPERATIONAL EFFICIENCIES AS A RESULT OF EXECUTION OF BUSINESS IMPROVEMENT INITIATIVES

* UNDERTAKING A PROGRAM TO REALISE $60 MILLION IN SAVINGS OVER THREE YEARS

* "FOCUSED ON GROWING OUR CHINA BUSINESS THROUGH INCREASED ENGAGEMENT WITH CROSS BORDER E-COMMERCE PLATFORMS"

* CHANGES TO E-COMMERCE REGULATIONS IN CHINA HAVE IMPACTED SALES MADE IN AUSTRALIA TO OVERSEAS CONSUMERS

* CHALLENGING TRADING CONDITIONS IN OUR CHANNELS TO CHINA ARE EXPECTED TO CONTINUE DURING FIRST-HALF OF FY20

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