DISCOUNT giant and pharmacy deregulation advocate, Chemist Warehouse (CWH), is experiencing a slowdown, with East Yarra Friendly Society (EYFS), a company that represents close to 50% of the group's stores, reporting profits of $6.5 million for 2017/18.
The latest financial results filed with the Australian Securities and Investments Commission (ASIC) on Fri, showed profits fell from $12.96 million in 2016/17, which marked a dramatic decline on the 2015/16 figure of $101.2 million.
The report showed sales for EYFS stores for the year to 30 Jun 2018 fell from a combined $300.9 million in 2016/17 to $298.6 million, having been $400 million in 2015/16.
EYFS has yet to file results for the 2018/19 financial year.
The Australian Financial Review, reported EYFS directors and CWH owners, Jack Gance and Mario Verrocchi, have considered listing the group, with the paper reporting a possible initial public offering could take place in late 2020.
However, the business' complex structure has been described as a potential barrier to the rumoured $5 billion float.
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