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Sigma eyes PPE opportunity as sales slide

Pharmacy wholesaler Sigma Healthcare says the coronavirus pandemic has delivered some opportunities including the rising importance of personal protective equipment, despite sales and underlying profit sliding for the first half of 2021.

The business, which has chemist brands including Guardian and Amcal, posted sales revenue of $1.6 billion for the six months to June, down 12.5 per cent. Sales were impacted by the My Chemist and Chemist Warehouse Group’s exit last year, though Sigma has since gained back the Chemist Warehouse fast moving consumer goods (FMCG) contract.

"We do think there’s a longer term opportunity given the demand for PPE is likely to stay at higher levels": Sigma chief executive Mark Hooper.

“We do think there’s a longer term opportunity given the demand for PPE is likely to stay at higher levels”: Sigma chief executive Mark Hooper. Credit:Darrian Traynor

Reported net profit for the half was up 87 per cent to $4.7 million, though the result was impacted by one-off items including expenses relating to the company’s restructure process and proceeds of the recent sale of two of its distribution centres.

When those factors were taken into account, underlying profit was down 5.1 per cent to $10.6 million.

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