Australian Pharmaceutical Industries Ltd
(ASX:API), which owns the Priceline and Soul Pattinson Chemist brands, has released its results for full year ended 31 August 2016.
API reported its net profit after tax rose 16% to $51.7 million, and its earnings before interest and tax went up almost 18% to $87.1 million.
The company says these results were driven by increased profits, low debt and an improved working capital position.
API declared a fully franked final dividend of 3.5 cents per share, which is 40% higher than the same period last year.
As for outlook, the company is focusing on its Priceline pharmacies, and expects to open another 20 stores during the year.
