Australian Pharmaceutical Industries Ltd (ASX: API) has reported its annual report for the year ended 31 August 2018.
Australian Pharmaceutical Industries is a pharmaceutical distribution, retailing and manufacturing business. It operates the Priceline chain of pharmacies around Australia.
3 Key Facts:
1: Total revenue decreased by 0.9% to $4.03 billion.
Management attributed a key part of the decline to a drop in demand for Hepatitis C medicines of around $155 million. Excluding that factor, revenue increased by 3.3% compared to the previous year.
2: Net profit after tax fell 8.2% to $48.2 million.
This figure includes the $4.1 million costs relating to the Clearskincare acquisition and $2.5 million relating to business restructuring to lower the ongoing cost base. Excluding these effects, underlying net profit grew by 0.8% to $54.7 million according to the company.
3: The final dividend was increased by 14.3%.
API declared a 4 cents per share fully franked dividend. This brought the company’s dividend payout ratio to 77%.
Outlook
The company is predicting that it will achieve earnings growth in FY19.
Managing Director Richard Vincent said: “While still only early in the year, retail trading in FY19 is in line with our internal expectations. We await the Christmas trading period and the outcome of the CSO review before providing further guidance.”
The Australian Pharmaceutical Industries share price has risen 8.8% over the past year according to Google Finance.
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