Australian Pharmaceutical Industries saw its net profit rise 18.1 per cent to $25.3 million over six months ended February 29 from prior corresponding period (pcp).
Total revenue during this period was up 4.4 per cent to $1.8 billion with EBIT up 15.6 per cent to 44.6 million.
“API has again delivered strong growth for shareholders through executing a clear strategy that is centred on building the Priceline Pharmacy network while generating sustainable returns through pharmaceutical distribution,” said API CEO and MD, Stephen Roche.
Pharmacy distribution for the company saw revenue growth of 1.5 per cent on the pcp, to $1.2 billion with a 1.0 per cent increase in gross profit.
“Tailoring our services to pharmacists’ needs has enabled us to generate sustainable returns from our business despite intense competition and on-going impacts of regulatory changes,” said Roche. “The suite of services available across Soul Pattinson, Pharmacist Advice and our Club Premium program underpins the ongoing success of our relationship with independent pharmacists.”
