Sigma forecasts 10% uplift
May 5, 2016
SIGMA Pharmaceuticals ceo Mark
Hooper yesterday indicated the
company is on track to deliver at
least 10% growth in its underlying
pre-tax earnings for the first half of
the financial year.
Announcing the profit upgrade
at the Sigma annual general
meeting, Hooper said the first three
months of the year had reinforced
the company’s belief that it has
a “roadmap of earnings growth
ahead of us from our strategy of
investing in non-PBS initiatives”.
These include hospital pharmacy
services, private label products and
income from other services.
Hooper said Sigma was continuing
to derive benefits from its CHS,
Discount Drug Stores, Pharmasave
and Chemist King acquisitions, all of
which he said are performing “well
ahead of our expectation when we
acquired them.
“Over 300 pharmacy brand
members were added to our
network and are bringing
incremental sales through our
wholesaling operations,” he said.
The CHS business had cemented
its 20% market share in the hospital
pharmacy in Victoria, and had more
recently pushed into NSW.
Hooper also confirmed ongoing
growth in the Amcal and Guardian
brands, which have also boosted
their levels of brand compliance.
Pharmacy professional service
programs including Coeliac testing
and Kidney Check programs
continue to put the pharmacist at
the centre of healthcare solutions,
he said, with Sigma “now focused
on further improving dispensary
efficiency to provide pharmacists
with greater scope to come out
from behind the counter”.
At the agm Sigma chairman
Brian Jamieson said the company
was in no way concerned by the
ongoing pharmacy review chaired
by Professor Stephen King, saying
it would provide opportunity to
“thoroughly assess the industry
as it is today and the long term
objectives for the future”.
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