BKL Bad News Looming???, page-76

JG. Good thoughts.

What concerns me as much is competition.

The LT growth rates that you quote, were essentially Blackmores as the only game in town. Few competitors or competitors with any scale. Eg...there was no Swisse back in those halycon days.

Spot on $40 for 400 fish oil tabs, no way, you conceed its now $20. That directly impacts margins. Sorry its not possible to maintain. Perhaps they get to sell more at $20 than they do at $40.

Be curious to see market share stats in this sector.

Coles/Woolies are also stocking a hell of a lot more brands now, and at lower prices than i recall even 2 years ago.

Regarding category killers. Swisse is taking BKL head on in many products, so i won't underestimate the prize here. My opinion.... margins are going to get squeeshed.