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. 

David Chau

Finance News Network
David joined FNN in April 2016. In addition to presenting the Market Outlook and latest business news stories, David interviews senior economists and CEOs of ASX-listed companies. Prior to working for FNN, David was a litigation lawyer.