API sales and profits fall in first half as Priceline takes a hit
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Lower foot traffic at Priceline Pharmacy stores in CBDs hurt Australian Pharmaceutical Industriesâ half year results, although the lower sales were partially offset by pent up demand for services in its Clear Skincare clinics.
A difficult 2020 has spilled over to 2021 for the pharmaceutical company thanks to COVID-19 lockdowns that affected its retail operations in Victoria and to a lesser extent NSW.
APIâs full year profit result to be broadly in line with current market expectations.Â
Photo: Virginia Star
The Melbourne lockdown persisted into early November, with API suffering from further lockdowns in December in parts of Sydney and Auckland.