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PD breaking news – API issues profit upgrade

Strong sales drive increased profit forecast for API.

Australian Pharmaceutical Industries is forecasting an underlying net profit after tax for the year to 31 August of up to $31.5 million, representing an increase of move than 30% on the previous year.

The upgrade is from previous guidance predicting a result of $28m-$30m, with both Priceline and Priceline Pharmacy recording comparable store sales growth of 6% during the year.

The year has also seen a net growth of 27 stores, lifting the Priceline network to 390 shops, and Pharmacy Distribution has achieved underlying sales growth of 11.9% after adjusting for the effect of PBS reforms.

API has also delayed the roll-out of its new OneERP (SAP) program, with a go-live date now planned for the first quarter of calendar 2015, in order to “safeguard the current sales momentum during the Christmas period.

“The company has taken a conservative view in relation to the timing of the roll out to ensure no disruptions to this important trading period for both API and its Franchise Partners,” the company said.

More information in today’s Travel Daily.


The above Breaking News Alert was sent to Pharmacy Daily subscribers on 03 Sep 14

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