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Company News Summary

Australian Pharmaceutical Industries Provides Strategic Review and Trading Update

12 Jul 2021  |  08:57:00  |  Associate analysts  |  Increase  |  Decrease  |  

Original announcement: API strategic review and trading update

Australian Pharmaceutical Industries provided an update on its recent annual strategic review and its anticipated financial results for the year ending 31 August 2021. The Company Board has decided to increase the focus of the company on its Pharmacy Distribution and two retail businesses. It confirmed that the build of its new Marsden Park distribution centre in north-west Sydney, at a cost of $50m, remains on time and within budget. It advises that the current and recent lockdowns during June and July 2021 caused the temporary closure of 72% of the non-pharmacy company-owned Priceline stores, and 75% of the Clear Skincare clinic network.

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