Pharmacy Daily | TWC rebrand rolling out

ALL pharmacies within the combined Terry White and Chemmart networks will be trading under the TerryWhite Chemmart brand by the end of 2017, according to an update issued yesterday by the company.

So far a total of ten pharmacies have rebranded, with ceo Anthony White saying the integration of the groups was "tracking well ahead of schedule".

He said the merger had cemented the group in the market, with about 500 pharmacies nationwide.

"The substantial scale we've achieved will deliver a range of critical benefits to our members, including significant supply-chain efficiencies that will support continued sales growth across the network," he said.

White said as a result of the merger member pharmacies have access to substantially increased infrastructure which will deliver improved in-pharmacy efficiencies and higher levels of customer service.

He confirmed that the new brand would be supported by "a significant investment in above-the-line marketing to generate high levels of customer awareness and brand recognition".

MEANWHILE the Terry White Chemmart Group also yesterday reported its results for the six months to 31 Dec, with consolidated pre-tax earnings of $3.4 million.

That was a 66% increase on the previous corresponding period - however net profit after tax rose just 3% to $1.3 million.

Total revenue doubled, from $16.9 million to $33.9 million, while service revenue rose 55% to $19.9 million for the half.

"The increase in revenue and EBITDA was directly attributable to the merger of Terry White Group with Chemmart, and we expect to see continued earnings improvement," White said.

He confirmed the group was committed to a five year goal of doubling its network size "to secure a strong and sustainable future for our pharmacy owners.

"Since announcing the merger of Terry White Group and Chemmart, we have received strong interest from pharmacy owners wishing to join our network," he said.

"We are confident that this will support an increase in organic growth, which will further supplement our planned acquisitive growth with like-minded community pharmacies."