Wholesaler reports profit increase
Pharmacy wholesaler Australian Pharmaceutical Industries (API) has recorded a healthy profit surge in its half-yearly results.
API recorded a net profit after tax of $21.3million for the six months to February 2015, a 31.1% increase on the comparable period last year.
Earnings before interest and tax were $38.6m, up 17% on the corresponding period.
The company’s report attributes the profit growth to earnings from its core businesses, a stronger financial position and disciplined cost control.