Pharmacybrands Limited: Half Year Result

Pharmacybrands Limited: Half Year Result
Auckland, 28 November 2012 – Pharmacybrands half year result

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Business Highlights

The company continued its expansion plans, investing in four medical centres and three pharmacies during the period. Many of these acquisitions were settled late in the period so the earnings impact has therefore been minimal. Earnings growth versus the same period last year was affected by one off write downs and acquisition costs having an NPAT impact of $1.1 million last year. In the current six months we have also seen cost savings due to central office consolidation following last year’s Radius acquisition. The strength of our pharmacy franchise group remains a big focus and we have developed further services to assist franchisee pharmacy revenue growth.

“The company has continued to introduce new professional services within pharmacy, taking advantage of the rescheduling of an antibiotic so as to allow prescribing by trained pharmacists. In addition we trained an additional 160 pharmacists to administer flu vaccinations next winter”, says Chief Executive, Alan Wham.

“We have further invested in IT infrastructure through consolidating our e-commerce platforms and, most importantly, developing our customer relationship management to extend our loyalty capability and reach. We intend to use this technology through our network to target consumers based on their purchase history. This will allow the company to increase the electronic component of its marketing mix over time.”

Total pharmacy and medical centre revenue for the period (including revenues of associates) was $122.6 million, up $7.9 million from the corresponding period last year. However, this increase was largely driven by the additional two months of Medical and a small contribution due to the timing of acquisitions rather than organic growth. More>>

ENDS

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