FY21 TRADING UPDATE - API RAISES PROFIT GUIDANCE AND ADVISES FULL YEAR RESULTS RELEASE DATE
Australian Pharmaceutical Industries (ASX:API) today advised that it will exceed the profit
guidance it provided to the market on 12 July 2021, despite a broadening of COVID-19
lockdown restrictions in both NSW and Victoria.
API anticipates its underlying earnings before interest and tax (EBIT) will be approximately
$70 million and reported EBIT approximately $28 million (unaudited) for the full year ending
31 August 2021.
“API recorded a stronger trading performance through our suburban and regional
Priceline Pharmacies as well as online. We also experienced elevated volumes through our
Pharmacy Distribution business that we were not anticipating,” API’s CEO & Managing
Director, Mr Richard Vincent said.
API advises that the sale of its New Zealand pharmaceutical plant is expected to occur in
the first quarter of FY22 and for this reason its Reported EBIT remains in line with previous
API also advises that the date of its FY21 full year results announcement has been moved
to 28 October 2021.
Announcement authorised by the Board of Directors of API.
courtesy of Bell Direct
i hold API ( and both predators WES and SIG )
will be interesting to see if a deal gets sweetened ( i would rather hold with the SIG deal my second choice )