Health and beauty retailer Australian Pharmaceutical Industries
(ASX:API) has posted a 54.5% rise in first half profit and raised its earnings guidance for the year.
Net profit after tax for the six months to February 28, 2010 came to $10.3 million on revenue of $1.85 billion, up 6.7%.
The company confirmed its previous guidance of $24.6 million profit for the full year.
This guidance, it says, assumes no material changes to the regulatory environment and no further reduction in consumer demand.
CEO Stephen Roche says the results reflect the underlying strength of the business in a very challenging economic environment.
Australian Pharmaceutical Industries declared an interim dividend of 1 cent a share compared to no dividend in the first half of last year.
Australian Pharmaceutical Industries recorded a profit for the 12 months to August 30, 2009.
