Subscribe


Pharmacy Daily

PD breaking news – API profit surges 27%

$29.1 million net profit after tax for the six months to 28 February. 

Australian Pharmaceutical Industries has just released its first half results, with reported net profit after tax up 27.2% on the previous corresponding period. However that included a $2.4m loss on the company’s sale of its shareholding in CH2, so the “underlying improvement” was 15%. Total revenue was up 12.7% to just over $2 billion for the period.

API ceo Richard Vincent said the Priceline Pharmacy network expanded to 450 stores, with 25 added during the last twelve months. Total retail network register sales rose 7.2% including strong growth in dispensary, while comparable store sales were up 0.4%. He said Priceline gained market share in dispensary, skincare, OTC health and colour cosmetic segments.

“The strength of the Priceline Pharmacy brand continues to attract independent pharmacists to our network and the pipeline of potential partners remains robust,” Vincent said. API expects to add at least 20 additional Priceline Pharmacy stores during the current financial year, boosting the network to 462. 

The company’s pharmacy distribution revenues were up 18% due to the new high-value hepatitis C medicines. Removing this effect and the impacts of PBS reform, the underlying growth was 5.9%.

The API board declared a fully franked interim dividend of 3.5c per share, an increase of 40%.

Vincent said the company anticipated that consumer sentiment is likely to remain more challenging than in previous years. “However we remain confident in our retail store pipeline and in reducing operational costs,” he said, with API expecting another year of record full year net profit after tax.

More details in tomorrow’s issue of Pharmacy Daily.


The above Breaking News Alert was sent to Pharmacy Daily subscribers on 20 Apr 17

Make a comment...



Established in 2007, Pharmacy Daily is Australia's leading pharmacy industry publication, and is sent as a free subscription to people across the industry as a PDF newsletter every weekday.

Register for Pharmacy Daily trial subscription

To sign up for a free subscription, click on the button at right.

Click here to see a sample issue of Pharmacy Daily.

Click here for more information on subscriptions.

Alternatively, you can search our site via the search box on the right hand side of the page, or find other content below.

Recent Pharmacy Daily articles

17 Oct

Guild Update 17 Oct 17: SCRIPTMAP 2020 updated - THE Pharmacy Guild has updated its financial ...


17 Oct

Dispensary Corner 17 Oct 17 - A man in Ireland has taken ignoring ...


17 Oct

Curash cares for baby - CURASH is showcasing its range of "expert ...


17 Oct

Pharmacy sunscreen education role - COINCIDING with the launch of their new ...


17 Oct

Valeant ATO stoush - MULTINATIONAL specialty pharmaceutical and medical device company ...


17 Oct

Sigma, Chemist Warehouse settle - SIGMA Healthcare this morning confirmed an agreement ...


17 Oct

Insulin injection skills - GUILD Learning and Development has announced the ...


17 Oct

Mayne to appeal 12-hr oxycodone rejection - LISTED pharmaceutical company Mayne Pharma may take ...


17 Oct

Opioid doctor struck off - THE Victorian Civil and Administrative Tribunal (VCAT) ...


17 Oct

Life Pharmacy in the pink! - THE Life Pharmacy Group has again celebrated ...


17 Oct

EBOS upbeat about 2018 - EBOS Limited, the majority owner of the ...


17 Oct

PD breaking news – Sigma settles Chemist Warehouse dispute - Chemist Warehouse agrees not to buy from ...


16 Oct

Weekly Comment 16 Oct 17: Understanding metastatic breast cancer - THIS week's contributor is Dr Alessandra Muntoni, ...


16 Oct

Dispensary Corner 16 Oct 17 - A "bizarre household accident" has led to ...


16 Oct

Blackmores pharmacy education dinners - BLACKMORES Institute is hosting a series of ...


16 Oct

NHS vax mandatory - THE UK National Health Service (NHS) has ...


16 Oct

Mental health plan - THE Health Department has released the Fifth ...


16 Oct

Pharmacy course on cancer medicines - GIVEN that cancer medicines are being supplied ...


16 Oct

TGA CM reforms - THE Therapeutic Goods Administration (TGA) is conducting ...


16 Oct

PSA on marriage - THE Pharmaceutical Society of Australia has issued ...



Show Pharmacy Daily items by month: