Subscribe


Pharmacy Daily

PD breaking news – Sigma warns of multi-million dollar pharmacy write-off

Provision for “doubtful debt relating to a single pharmacy group”. 

Sigma Pharmaceuticals has just flagged “one-off accounting adjustments” to its full year results for the 12 months to 31 January 2017, amounting to almost $20 million. That figure reflects an insurance premium recovery of $11.4 million announced last May, as well as “an additional provision for doubtful debt relating to a single pharmacy group”.

Sigma ceo and managing director, Mark Hooper, said the company continues to seek a resolution for the outstanding debt, “it was considered prudent to provide for the full extent of our exposure”. The company’s statement does not specify to which pharmacy group the issue applies.

Overall the company’s full year underlying earnings will amount to just over $100 million, up about 12% on last year. However the statutory result will be hit by the write-downs, meaning reported EBIT is expected to be broadly in line with last year.

“Whilst the one-off impacts are disappointing, Sigma’s business is in good shape,” Hooper said.

More details in Monday’s edition of Pharmacy Daily.


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

27 Jun

PD breaking news – Blackmores ceo goes to Australia Post - Blackmores announces ceo Christine Holgate resignationASX-listed natural ...


27 Jun

Guild Update 27 June 17: Guild digest available now for Members - THE release of the 2017 Guild Digest ...


27 Jun

Dispensary Corner 27 June 17 - HOW to skirt the rules - around ...


27 Jun

Statin nocebo effect - RESEARCHERS have warned that many presumed statin-associated ...


27 Jun

New priority pathway - THE Therapeutic Goods Administration has confirmed the ...


27 Jun

New UK minister - STEVE Brine has been appointed as the ...


27 Jun

Pharmacy satisfaction - MY CHEMIST has topped the May monthly ...


27 Jun

NZ bulk distribution - NEW Zealand's PHARMAC has confirmed it will ...


27 Jun

Antibiotic stewardship - ANTIBIOTIC stewardship programmes have been shown in ...


27 Jun

Remote dispensing - MACHINE dispensing is a key option canvassed ...


27 Jun

Insomnia course - GUILD Learning & Development is partnering with ...


27 Jun

Digital ad spending climbs - PHARMACEUTICAL marketers in Australia are increasingly utilising ...


27 Jun

Friendlies vaccination surge - WESTERN Australia's Friendlies Pharmacy Group has this ...


26 Jun

Weekly Comment 26 June 17: The science of massage therapy - THIS week's contributor is Dr Jaspreet Singh, ...


26 Jun

Dispensary Corner 26 June 17 - A toddler from the US state of ...


26 Jun

Pharmacists impact - A new study published in Clinical Therapeutics ...


26 Jun

Apotex launches new vaccine ordering site - APOTEX has today launched the APOaccess online ...


26 Jun

Pharmacist pinged for self-prescribing - THE NSW Health Care Complaints Commission (HCCC) ...


26 Jun

Paracetamol pregnancy problem - PARACETAMOL taken by a mother during pregnancy ...


26 Jun

Self-care convocation - EARLYBIRD registration for the upcoming World Self ...



Show Pharmacy Daily items by month: