Vitamins on track

BLACKMORES shares have risen after the vitamin maker reporting a lift in its first-quarter profit and reaffirming it is on track for a stronger fullyear result.

In the three months to September, the company’s net profit was up 28 per cent compared with the same period a year ago, to $15.4 million.

It came on the back of continued demand for its vitamins and health products in China. Net sales climbed 9.3 per cent to $134 million, with direct China sales rising 28 per cent.

New chief executive Richard Henfrey said that Blackmores was in a better position than it was a year ago and was on track to beat last year’s $59 million full-year net profit

Shares in the group closed up 64c, or 0.47 per cent, to $137.70 yesterday.