Sigma Pharmaceuticals Limited (ASX:SIP) has revealed it expects to post lower earnings in the first half of this year compared to the same period last year.
The pharmaceutical service provider has blamed the weaker guidance on a higher cost base arising from investment in key areas of the business including Multi Channel.
On a positive note Sigma advises trading in the first has met expectations and slightly stronger sales are expected to flow through to gross profit.
The company has also stated it believes it is in a strong position to recover a portion of funds regarding the receivership of wholesale customer The Harrisons Group.
Sigma Pharmaceuticals reported a net profit of $18.7 million in the 2012 financial year.
