TERRY White Group's (TWG) merger with Chemmart in Oct 2016 (PD 27 Oct 16) has delivered a "substantial increase" to revenue and earnings, according to its financial statements for the half year to 31 Dec 2017.
Total revenue was up 96% to $66.5m pushing EBITDA up 24% to $4.2m.
However net profit after tax decreased 17% to $1.1 million after accounting for merger and integration costs of $0.8 million.
"The merger has created a solid foundation for our future growth, and we are now very focused on harnessing the synergies and leveraging the increased customer recognition from the re-brand to deliver enhanced earnings and improved shareholder returns in the future," the company said.
The full integration of the businesses across marketing and merchandising, operations, store development and corporate functions is now complete.
"We are focused on delivering improved earnings in future periods by harnessing the synergies of the two groups and by leveraging the increased customer recognition from our rebrand to drive growth," the report added.
As well as rebranding and a major consumer campaign, TWC has introduced a new loyalty program.
No interim dividend was declared, and the board also said it was "actively investigating options to provide liquidity for shareholders".
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