Corum Group has “turned the corner”
August 18, 2011
PHARMACY software supplier
Corum Group Limited has today
reported a record $1.751 million
profit for the year to 30 Jun, with
directors saying shareholders may
now expect profits into the future.
The figure includes a whopping
$812,000 settlement paid to the
company’s former Executive
Director Michael Rowley over an
employment dispute.
The travails of the past few years
have also left Corum with a court
case against Westpac, imposes many
restrictions on how the company
can operate, the board said.
Total sales for the year amounted
to $21.04 million, down $680,000
on the previous year reflecting the
removal of the govt’s accelerated
depreciation initiative.
Revenue from the Corum Health
Services pharmacy software
division was $14.2m, with a net
profit of just $7000 - significantly
down on last year’s $1.4m profit
but included the $800k payout and
no capitalisation of development
costs which amounted to almost
$700,000 the previous year.
The above article was sent to subscribers in Pharmacy Daily's issue from 18 Aug 11To see the full newsletter, see the embedded issue below or CLICK HERE to download Pharmacy Daily from 18 Aug 11
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