Green Cross faces bitter pill with skinny margins

Green Cross’ pharmacy division operates the Life Pharmacy and Unichem brands. (Image: Getty)

Tue, 30 May 2023

Green Cross Health is urging the government to increase funding for the sector as its remaining pharmacy and GP businesses face increasingly stretched margins. The company lifted net profit to $50.5 million in the 12 months ended March 31 from $33.1m a year earlier, due to the $30.3m gain on the sale of its community health division. Operating profit from continuing operations dropped 29% to $34.3m from what had been a record the year earlier, even as revenue edged up 3% to $493.6m. Green Cross’ pharmacy division – wh...

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