AUSTRALIAN Pharmaceutical Industries (API) saw strong sales through its Priceline Pharmacy dispensaries, with like-for-like growth of 4.4%, more than double the PBS growth for the same period.
The figures were revealed on Wed afternoon by outgoing ceo Stephen Roche during his final address at the API annual general meeting.
Roche, who will be replaced by ceo-elect Richard Vincent effective 15 Feb, told shareholders the Priceline brand also saw an increase in its overall market share of health and beauty, with number one positions in both colour cosmetics and skincare.
Vincent gave an update on current trading conditions, with a good Christmas despite variable weekly demand.
He said the company was expecting a record net profit after tax for the first half of the financial year of $29m, up 14.6%.
Although sales growth within Pricline was up 1.4% leading up to Christmas, "since then we've seen some overall slowness in the market," he said.
Store openings are on track, to reach a total of 462 in the network by the end of the financial year.
"The forecast half year results clearly continue our momentum and should further reinforce shareholder confidence," he said.
The API agm also confirmed Vincent's remuneration package, which will see him receive $1.04 million annually including superannuation as well as participate in short and long-term incentive plans.
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