(Changes slug; adds background on coronavirus, details)
Feb 12 (Reuters) - Blackmores Ltd (BKL) said on Wednesday that it expects profit to more than halve this year due to supply disruptions from the coronavirus outbreak, prompting the Australian vitamin maker to scrap its dividend.
Blackmores is among a growing list of companies that have been hit hard by the deadly coronavirus, which has killed more than 1,000 people in China and disrupted business activity globally.
Although demand for vitamins has surged among health-conscious consumers, 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.
Supply and sales disruptions due to the outbreak are expected to last for at least two to three months, Blackmores said.
The Australian company sees after-tax net profit for the full year of A$17 million to A$21 million ($11.41 million to $14.10 million). It had reported a profit of A$53 million in August last year.
Blackmores reported first-half underlying profit of A$18 million and revenue of A$303 million. The company also expects a spike in costs as it introduces new labeling to meet new regulations. ($1 = 1.4896 Australian dollars)
