Sigma Healthcare shares have slumped after the pharmaceuticals supplier revealed a slump of more than 50 per cent in first-half profit to $13.4 million.
Sigma, which owns pharmacy brands Amcal, Guardian, Discount Drug Store, and Chemist King, said the 51.8 per cent fall was partly due to $6.1 million of restructuring costs following the loss of its contract to supply Chemist Warehouse in July.
Sigma has hired financial services firm Accenture to help oversee its continued restructure following the loss of the Chemist Warehouse Contract.
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A 2 per cent fall in revenue to $1.96 billion was attributed to falling sales in Hepatitis C medication, and the continued impact of the rescheduling of codeine as a prescription-only drug.
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