29 May 2013

Pharmacybrands profit rises

7:55 am on 29 May 2013

Pharmacybrands profit has jumped by a third despite a subdued retail environment after doing cost-saving drives in its stores.

The listed company made a profit of $13.2 million in the year to the end of March, compared with $9.9 million for the same period a year ago.

Operating revenue fell 0.5% to $105 million while sales in stores open for at least a year fell 1.7%.

The company says its pharmacy store revenues fell due dispensary and retail declines, but chief executive Alan Wham says there have been modest signs of improvement in retail revenues in April and May.

The company operates the Amcal, Care Chemist, LifePharmacy, Radius and Unichem retail chains and medical centres.

Pharmacybrands will pay a final dividend of 3.5 cents per share.