SIGMA Healthcare Limited has reported a 45.7% jump in statutory net revenues to $4.8 billion for the year-ending 31 Jan (PD breaking news) along with a non-recurring after-tax loss due to its merger with Chemist Warehouse Group (CWH).
The now-complete merger will see Sigma's next financial results report, which will reflect the period ending 30 Jun 2025, incorporate the first full-year's results from Chemist Warehouse and Sigma's performance from 12 Feb to 30 Jun.
Sigma incurred $43.5 million in transaction, advisory and other costs relating to its CWH merger efforts along with $2.8 million in onboarding costs relating to its new CWH supply contract.
The company reported a statutory EBITDA of $47.5 million, down 7.9% on last year, along with an after-tax net loss of $13.8 million, which factored in all merger expenses.
Sigma CEO and Managing Director Vikesh Ramsunder said the company's "laser focus" strategy to build scale, drive efficiencies, simplify the business and enhance margins had materially enhanced its operational performance.
Highlights for the full-year included the successful onboarding of the CWH supply contract, a new five-year wholesale industry agreement to sustain distribution of medicines throughout Australia and an 8.5% like-for-like wholesale sales growth across its Amcal and Discount Drug Stores brands.
"During this period, I was particularly proud of how we maintained our high standards of delivering and meeting the needs of all our customers despite the increase in volume which followed the onboarding of the new Chemist Warehouse supply contract and the significant management time that was dedicated to the merger," Ramsunder added.
The company said on this occasion, no dividend would be paid on account of the results. ML
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