Subscribe


Pharmacy Daily

PD breaking news – API revises profit guidance downwards

Full year net profit after tax up about 5%, lower than expected due to weak demand. 

Australian Pharmaceutical Industries has just issued a revised profit guidance for the financial year ending 31 August 2017, saying trading in retail has been weaker than anticipated.

CEO and managing director Richard Vincent said while the company had forecast soft demand in the second half of the financial year, sentiment had weakened further leading to the revision of full year profit expectations.

“While we continue to see good market share results, solid growth in transactions across our network at 4% up on FY16 and the roll-out of new stores has remained on track, overall like-for-like sales has weakened due to consumers spending less per basket and on lower value items,” he said.

Vincent said API was holding its share of the available market, with significant new product launches to help stimulate demand in the coming months.

“We are in a strong market position, our balance sheet remains healthy and we are confident that we are well positioned to take advantage of any upswing in market sentiment,” Vincent added.

More details in tomorrow’s issue of Pharmacy Daily.


The above Breaking News Alert was sent to Pharmacy Daily subscribers on 02 Aug 17

Make a comment...



Established in 2007, Pharmacy Daily is Australia's leading pharmacy industry publication, and is sent as a free subscription to people across the industry as a PDF newsletter every weekday.

Register for Pharmacy Daily trial subscription

To sign up for a free subscription, click on the button at right.

Click here to see a sample issue of Pharmacy Daily.

Click here for more information on subscriptions.

Alternatively, you can search our site via the search box on the right hand side of the page, or find other content below.

Recent Pharmacy Daily articles

15 Dec

Dispensary Corner 15 Dec 17 - DO YOU or someone you know ride ...


15 Dec

TGA biovigilance call - THE Therapeutic Goods Administration (TGA) has posted ...


15 Dec

Asthma training tick - SELF-TAUGHT breathing retraining improves quality of life ...


15 Dec

Zoledronic acid funded - UP TO 3,000 New Zealand post-menopausal women ...


15 Dec

Progesterone implants - THE Royal Australian College of General Practitioners ...


15 Dec

Amcal pain plans - IN PREPARATION for the imminent upscheduling of ...


15 Dec

Rx minor variations - THE Therapeutic Goods Administration (TGA) has posted ...


15 Dec

Sub co-payment data - THE collection of under co-payment prescription data ...


15 Dec

SHPA residency expands - MORE Australian hospitals have decided to seek ...


15 Dec

Litigation drives investigation - FEAR of litigation and the need to ...


14 Dec

Travel Specials 14 Dec 17 - WELCOME to Pharmacy Daily's travel feature. Each ...


14 Dec

Dispensary Corner 14 Dec 17 - "MAN flu" may be a real disease ...


14 Dec

FDA alert on alt drugs - PROMOTED as alternatives to other illicit drugs, ...


14 Dec

5.4m MHR registrants - MY HEALTH Record (MHR) statistics as at ...


14 Dec

Vale Jack Thomas - THE outstanding achievements and long-term service to ...


14 Dec

Risk management - SPONSORS of prescription medicines and biologicals making ...


14 Dec

McNamee CSL chair - ASX-LISTED CSL has announced that after 23 ...


14 Dec

eRx reaches ‘critical mass’ - ERX Script Exchange has recorded a milestone ...


14 Dec

Sigma’s LEAPP to success - SIGMA Healthcare's LEAPP Dispensary Excellence program (PD ...


13 Dec

Crampeze Night Cramps Forte - ...



Show Pharmacy Daily items by month: