Sigma sees strong growth
September 14, 2012
SIGMA has clocked a net profit of
$26.1 million for the half year
ending 31 July 2012, a result which
the company said was “strong”
given the impact of significant PBS
reform and ongoing re-investment
in the business.
The half year also saw Sigma
increase its sales revenue by 3.5%
to $1.4 billion, despite flat PBS
revenue.
“The above industry growth of
total sales reflected market share
gains and includes a full six months
of sales revenue from customer
groups acquired in 2011,” the
company said.
Sigma also said it is in a positive
cash position at half-year end, with
its net cash jumping $12 million
from $114 in January to $126 in July.
In light of the company’s
performance, the Board made the
decision to reward shareholders by
declaring a 2.0 cent fully franked
interim dividend, amounting to a
payout ratio of 90%.
“The Board considered it
appropriate to increase dividend
payments compared with the
corresponding period a year ago, as
confirmation of the sound progress
the company has made,” said Sigma
Chairman, Brian Jamieson.
Looking forward, the company
said it expects operating cashflows
will support strong dividend payout
ratios for the foreseeable future,
adding that shareholders should
expect to benefit from an onmarket
share buy-back of up to
10% of issued capital.
“This was the right move at this
time given the strength of the
company’s balance sheet,”
Jamieson said.
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