API’s 1H17 profit lifts 15% – with boost from Priceline

Company News

by David Chau

Australian Pharmaceutical Industries (ASX:API) has released its 1H17 results, and reported its underlying NPAT rose 15% to $29.1 million.

The company also posted a 9% increase in earnings before interest and tax to $48.6 million.

API’s network includes Priceline Pharmacies and Soul Pattinson Chemists. Its Priceline pharmacy network grew to 450 stores, with 7.2% total retail network sales growth.

The company declared a fully-franked interim dividend of 3.5 cents per share, which is 40% higher than last year’s interim dividend.

This morning, API shares are tracking 0.5% higher at $2.05. 

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