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Australian Pharmaceutical Industries Provides Market Update

16 Oct 2020  |  18:41:00  |  Associate analysts  |  Increase  |  Decrease  |  

Original announcement: API Market Update

Australian Pharmaceutical Industries updated in relation to its financial results for the year ended 31 August 2020 (FY20) and an update on the impact of COVID-19 on its retail business operations. The Company updated that the underlying Net Profit after Tax (NPAT) for FY20, which reflects their trading result, will be broadly in line with market expectations. The Company expects to report Underlying NPAT in the range of $30.0m to $31.0m for the year ended 31 August 2020. As reported, the Company also made the decision to rationalise its Priceline company store network (i.e. non-pharmacy stores) after carefully considering the long-term impacts of COVID-19 on foot traffic in CBDs and shopping centres relative to on-going rents.

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