Full year underlying earnings forecast declines to $90 million.
Sigma Healthcare has just issued a trading update, advising that “current year sales are more challenging given general industry conditions and our ongoing focus on enforcing consistent brand standards to improved brand performance”.
The company said it now estimates that its underlying EBIT figure for the first half of the 2018 financial year will be around $44 million, with the full year figure expected to be around $90 million – about $5 million lower than current market consensus.
“Steps have been taken to enhance sales performance and market share growth in the second half to help overcome the impact of general market conditions and provide momentum into FY2019,” the company said.
CEO Mark Hooper said the company remains confident that its business strategy and increased investment in infrastructure will deliver growth and efficiency improvements beyond the current year.
More details in Monday’s issue of Pharmacy Daily.