API lauds strong retail performance

The last financial year has strengthened the increasing presence of API as a mass market retailer, the company‘s chairman says.

Addressing the API annual general meeting this week, CEO Stephen Roche (pictured) said results for the 2013/14 financial year showed the company’s “declining reliance on our traditional pharmaceutical wholesaling earnings and increases our presence as a substantive mass market retailer.”

API revenue was up by 5.7% (to $3.35bn), gross profit up 6.8% (to $431mil) and underlying net profit after tax up by more