Pharmacybrands posts 17 percent gain in first-half profit, notes foot traffic impact

Wed, 27 Nov 2013

Nov. 27 (BusinessDesk) – Pharmacybrands, the retail pharmacy and medical centre owner, posted a 17 percent gain in first-half profit after restating revenue in line with new accounting rules and noting the impact of changes to the way the government funds pharmacists. Profit rose to $8.97 million in the six months ended Sept. 30, from $7.55 million a year earlier, the Auckland-based company said in a statement. Sales rose 3.6 percent to $127.9 million. “The profit improvement was driven mainly by improved margin and cost control at our phar...

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