SIGMA Healthcare is on track to meet its goal of delivering an underlying earnings before interest, tax, depreciation and amortization (EBITBA) in the 2023 financial year.
Delivering the company's 2022 Half Year results, to the Australian Securities Exchange (ASX) this morning, Sigma reported a 5.5% increase in sales revenue, with EBITDA climbing by 12.6% in the six months to 30 Jun, compared with the prior corresponding period.
Sigma reported that organic growth across its pharmacy brands had continued, with like-for-like sales up 8.7%, after recording 9% in the 2021 financial year, and outgoing CEO, Mark Hooper, noting that the "pipeline of new members is strong across the brands".
Hooper noted that wholesale sales were up 13.6%, including the positive impact of the full return of Chemist Warehouse's fast moving consumer goods (FMCG) business.
Sigma also saw a 8.9% increase in hospital revenue, resulting from growth in sales across Victoria and NSW.
However, the company reported that COVID-19 restrictions had seen lower sales to CBD, shopping centre and airport pharmacies.
The report added that the performance of Sigma's Medication Packaging Services was flat "given access to residential aged care remains a challenge".
Sigma reported an increase in operating costs to comply with COVID-19 regulations, noting that it had "no reliance on Government support [JobKeeper]".
Referencing Sigma's FY21 outlook for business development growth, Hooper said the company was "in active discussions on a number of opportunities" for merger and acquisition activities to accelerate its expansion.
Meanwhile, Sigma's Board noted that Hooper intends to leave the company at the end of next month (PD 26 Apr).
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