Subscribe


Pharmacy Daily

PD breaking news – Sigma warns of multi-million dollar pharmacy write-off

Provision for “doubtful debt relating to a single pharmacy group”. 

Sigma Pharmaceuticals has just flagged “one-off accounting adjustments” to its full year results for the 12 months to 31 January 2017, amounting to almost $20 million. That figure reflects an insurance premium recovery of $11.4 million announced last May, as well as “an additional provision for doubtful debt relating to a single pharmacy group”.

Sigma ceo and managing director, Mark Hooper, said the company continues to seek a resolution for the outstanding debt, “it was considered prudent to provide for the full extent of our exposure”. The company’s statement does not specify to which pharmacy group the issue applies.

Overall the company’s full year underlying earnings will amount to just over $100 million, up about 12% on last year. However the statutory result will be hit by the write-downs, meaning reported EBIT is expected to be broadly in line with last year.

“Whilst the one-off impacts are disappointing, Sigma’s business is in good shape,” Hooper said.

More details in Monday’s edition of Pharmacy Daily.


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

26 Jun

Weekly Comment 26 June 17: The science of massage therapy - THIS week's contributor is Dr Jaspreet Singh, ...


26 Jun

Dispensary Corner 26 June 17 - A toddler from the US state of ...


26 Jun

Pharmacists impact - A new study published in Clinical Therapeutics ...


26 Jun

Apotex launches new vaccine ordering site - APOTEX has today launched the APOaccess online ...


26 Jun

Pharmacist pinged for self-prescribing - THE NSW Health Care Complaints Commission (HCCC) ...


26 Jun

Paracetamol pregnancy problem - PARACETAMOL taken by a mother during pregnancy ...


26 Jun

Self-care convocation - EARLYBIRD registration for the upcoming World Self ...


26 Jun

MA blasts Review - PEAK pharmaceutical group Medicines Australia has raised ...


26 Jun

Sigma launches pathology - SIGMA Healthcare has today launched pathology health ...


23 Jun

Events Calendar 23 June 17 - 28-30 Jul: PSA17; Hyatt Regency, Darling Harbour, ...


23 Jun

Dispensary Corner 23 June 17 - THERE was lots of serenity in India ...


23 Jun

Willach SAMIX deal - WILLACH is showcasing its new agreement with ...


23 Jun

Exam registration - THE Australian Pharmacy Council has announced that ...


23 Jun

New PSA president - TASMANIAN pharmacist Dr Shane Jackson has been ...


23 Jun

ACT pharmacists to vax - THE ACT Pharmacist Vaccination Standards were amended ...


23 Jun

Review report criticised - YESTERDAY'S release of the much-anticipated interim report ...


22 Jun

PD breaking news – Review of Pharmacy Remuneration and Regulation interim report released - Issues are "complex, with the potential to ...


22 Jun

Travel Specials 22 June 17 - SEE it All with Voyages to Antiquity: ...


22 Jun

Dispensary Corner 22 June 17 - SOME books are just too hard to ...


22 Jun

1st Group takes Tonic - ONLINE health media and technology group 1ST ...



Show Pharmacy Daily items by month: