Menu
Menu
Strong sales boost API's full-year profit 22%

Strong sales boost API's full-year profit 22%

Australian Pharmaceutical Industries (ASX:API) lifted its full-year profits 22.3% to $18.6 million, driven by strong sales from its Priceline and Soul Pattinson stores.

The company’s overall revenue grew 9.6% to $3.5 billion. Revenue from the pharmacy division increased by 11.3% to $2.8 billion, while sales from Priceline stores increased by 5.4%.

API also announced it would collect $150 million via an equity raising. The fully underwritten offer will consist of a $112 million non-renouncable entitlement offer and a $38 million institutional placement.

Looking ahead, the company expects a growth in post-tax profit of around 10% for the 2010 financial year, API said.

Join the CIO Australia group on LinkedIn. The group is open to CIOs, IT Directors, COOs, CTOs and senior IT managers.

Join the newsletter!

Or

Sign up to gain exclusive access to email subscriptions, event invitations, competitions, giveaways, and much more.

Membership is free, and your security and privacy remain protected. View our privacy policy before signing up.

Error: Please check your email address.

Tags APIpharmaceuticals2009 Financial Results

Show Comments