Australian Pharmaceutical Industries Limited
(ASX:API) has shared its confidence in the ongoing growth of its national health and beauty retailer, Priceline.
The pharmaceutical distributor and retailing company says Priceline has now expanded its store network to 350 stores and is continuing to attract interest from pharmacists wanting to join Priceline Pharmacy.
Managing Director Stephen Roche expects this interest to continue because of an increasingly tough environment in the next two to three years.
Australian Pharmaceutical Industries has also revealed it is in advanced talks with potentially 20 Priceline franchisees.
Shares in Australian Pharmaceutical Industries rose 3.66 per cent yesterday before the announcement was made to close at $0.425.
Australian Pharmaceutical Industries posted a net profit of $18.3 million in the first half of the 2012 financial year.
