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PD breaking news – Sigma profit surges 34.5% to $33.5 million

Sigma first half earnings boosted. 

Sigma Pharmaceuticals claims a strong result for the six months to 31 Jul indicates an improvement in its market share, with the company seeing sales up 2.6% to $1.5 billion for the half.

The overall EBIT result was $33.5 million, compared to $24.9 million for the previous corresponding period, with the improvement also due to one-off costs incurred in 2013 that did not repeat this year.

CEO Mark Hooper said it was a strong performance against a backgroup of a flat PBS.

“It is a credit to our team at Sigma and our pharmacy customers that we have been able to continue to grow the business,” he said.

Hooper said Sigma was continuing to focus on strengthening its pharmacy offer. 

“We want our branded pharmacies to the pharmacy of choice for health, beauty and wellbeing, and we are committed to actions that support that stragety,” he added, with structure professional services products continuing to roll out alongside an expanding range of private and exclusive label products.

The company cited key achievements include the acquisition of Central Healthcare Services in May as well as the recent Discount Drug Stores deal, along with the decade-long extension of the wholesale supply and service agreement with Pharmacy Alliance which represents over $400 million in annual revenue.

More information in Pharmacy Daily tomorrow.


The above Breaking News Alert was sent to Pharmacy Daily subscribers on 11 Sep 14

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