Subscribe


PD breaking news – Sigma reports profit surge

Sigma full year profit $53.5 million after tax.

Sigma Pharmaceuticals has just released its financial results for the year to 31 Jan, with sales up 1.1% to almost $3 billion and an after-tax profit result of $53.5 million.

That was a huge jump from last year’s $18.6 million after-tax result, which was hit by a $48 million legal settlement.

CEO Mark Hooper said that targeted investment over the last three years is beginning to show benefits across the business, while the company is also taking a leading position in the introduction of structured Professional Service initiatives into its Amcal, Amcal Max and Guardian pharmacy networks.

“To deliver sales growth in a market that is under pressure from Government PBS price disclosure reform and generally difficult trading conditions reinforces the recent investment decisions taken and the direction we are heading,” he said.

The company estimated that without the impact of PBS price reductions in the last 12 months sales revenue would have grfown by 4.1%, with the impact offset by further reductions in customer discounts as well as operational efficiencies.

The figures confirm a $7.4 million bad debt related to the collapsed Harrison’s group, as well as a $10.9 million profit from the sale of the company’s Clayton property.

Hooper said Sigma expects to achieve revenue growth above the “dampening effect of ongoing Government PBS price disclosure reform in the coming year.

“We look ahead with renewed optimism that Sigma will reap the rewards from having already invested in key areas such as structured Professional Services and an improved retail offer as key planks in our vision of making Sigma Australia’s partner of choice in health, beauty and wellbeing,” he concluded.

More information in tomorrow’s Pharmacy Daily.


The above Breaking News Alert was sent to Pharmacy Daily subscribers on 27 Mar 14

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 Aug

Travel Specials 17 Aug 17 - WELCOME to Pharmacy Daily's travel feature. Each ...


17 Aug

Dispensary Corner 17 Aug 17 - HAVING silky smooth tresses is probably the ...


17 Aug

Tobacco reengineered - A RELATIVE of the tobacco plant has ...


17 Aug

New hearing standards framework - THE Federal Government has announced it is ...


17 Aug

Which pregnancy supplements? - THE Queensland Department of Health has issued ...


17 Aug

Insurance submission - THE Pharmacy Guild has made a submission ...


17 Aug

Allergy relief - VICTORIAN researchers from the Murdoch Childrens Research ...


17 Aug

$99m from Oct cuts - PRICE reductions due to the 01 Oct ...


17 Aug

Pharmacist’s stiff penalty - THE Supreme Court of New South Wales ...


17 Aug

Guild showcases pharmacy - THE Pharmacy Guild has launched what it's ...


16 Aug

Go natural from top to toosh – GAIA - GAIA Natural Baby now offer the full ...


16 Aug

Miracle Gel Rustic Charm Collection - SALLY Hansen's Miracle Gel Rustic Charm Collection ...


16 Aug

Super Flavoured Spirulina - NATURE'S Way Super Flavoured Spirulina is a ...


16 Aug

Facial Moisturiser for Fathers’ Day - SUKIN Facial Moisturiser is an easily absorbed, ...


16 Aug

Dispensary Corner 16 Aug 17 - COP an eyeful of this - an ...


16 Aug

Monash pharmacy milestone - MONASH Pharmacy and Pharmaceutical Sciences is celebrating ...


16 Aug

Aged care data site - THE Health Department has launched a new ...


16 Aug

Immunisation success - A new study reported in the Clinical ...


16 Aug

Atozet/Zeteze AusPAR - MERCK Sharp & Dohme's Atozet/Zeteze (ezetimibe and ...


16 Aug

South Pacific pharmacists strike - AUSTRALIA'S Department of Foreign Affairs and Trade ...



Show Pharmacy Daily items by month: