Terry White profits $1.2m
September 2, 2015
Terry White Group Limited has
announced a net profit after tax of
$1.2 million for 2014/15, on total
revenue of $48.8 million, up 16%.
The company saw product sales
reach $18.3 million, almost double
the $9.3m in FY14, along with an
increase in EBITDA from continuing
operations of 6% to $3.7 million.
Net operating cashflow increased
dramatically, from $370,000 in
FY14, to $3.7 million in FY15.
Terry White Group ceo Anthony
White said the past year has been
transformational, with the Group’s
acquisition of Chemplus pharmacy
franchise and brand.
“Chemplus has been an important
strategic acquisition for our Group,
adding 60 additional stores to the
network and creating increased
distribution points for our private
label products,” White said.
The acquisition was completed
on 31 Jul and is expected to be
earnings accretive, before transition
costs, in the first year of operation.
“With the Chemplus acquisition
now complete, we are actively
pursuing our strategy to consolidate
with other ‘like-minded’ pharmacy
brands,” White said.
The Group is now seeing the
benefits of investments made over
the past four years in systems,
platform and the capability to grow
the network, he added.
“In-store efficiencies have
improved, local marketing and
merchandising activities are more
efficient and pharmacists are
now better able to focus on their
customers.”
White expects industry
consolidation will continue in the
short-medium term, which will
present “attractive opportunities”.
“We are well placed to take
advantage of the opportunities for
the greater benefit of our entire
network,” White said.
“The investments we have made
in our retail infrastructure, systems
and platforms have us strongly
positioned to capitalise on industry
shifts and to support pharmacy
owners to grow and succeed,
particularly given the impact of the
6CPA.”
The Group declared a dividend
of eight cents per share, which is
consistent with the previous period.
He also confirmed that
shareholders had unanimously
resolved to change the company
name to Terry White Group at an
Extraordinary General Meeting,
to “enhance and capitalise on the
strength, credibility and recognition”
of the Terry White brand.
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