Sigma profit surges 15.5%
September 8, 2016
Sigma Pharmaceuticals this morning released its figures for the six months to 31 Jul, with ceo Mark Hooper saying the results reflect the company's strategic positioning to "broaden the business and drive operational improvement".
Total revenue surged 28.1% to $2.15 billion while earnings before interest and tax rose 15.5% to $37.3 million for the period.
Hooper highlighted Sigma's investment to "create the largest pharmacy footprint in Australia" with more than 700 pharmacies now operating under the various Sigma brands, comprising about 20% market share of retail sales.
He said the strong rise in revenue was heavily influenced by the PBS listing of the "high cost low margin Hepatitis C medications," and excluding this revenue was up 7.8%.
Sigma brands now include Amcal, Guardian, Discount Drug Stores, Pharmasave and Chemist King and there's also an online Amcal store for the Chinese market.
Hooper was optimistic about future growth for Sigma, forecasting a 10% growth in earnings guidance for the full year.
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