Sigma Healthcare’s NPAT falls 33.1%

Company News

by Rachael Jones

Sigma Healthcare (ASX:SIG) released their results for financial year 2019 showing net profit after tax was down 33.1 per cent on last year to $37 million.

Underlying EBITDA of $90.5 million, was down 9.2 per cent on last year.

Total Sales Revenue of $3.98 billion was down 2.9 per cent, reflecting the $226 million or 50 per cent decline in sales of the low margin Hepatitis C medicines.

The Business Transformation program Project Pivot is underway which Accenture identified as having over $100 million in efficiency gains over the next two years.

This was initiated after the announcement that Sigma would not renew the MyChemist/Chemist Warehouse service contract.

Shares in Sigma Healthcare (ASX:SIG) closed 3.77 per cent higher at 55c yesterday 

Rachael Jones

Finance News Network
Rachael comes to FNN after working for Fairfax Media covering international breaking news, including the global economy and politics. She joined FNN in February 2018. She has reported on Australia’s finance news for various organisations since 2000 and has also interviewed a number of key business players, including Bill Gates. Rachael has also worked across a number of countries, including the UK and the US.