The healthcare group says it is “committed” to expanding its pharmacy franchise network into the next financial year
Ramsay Health Care has today reported a net profit after tax of $579.3 million for the year ending 30 June 2018, up 6.8%, and says it aims to become the pharmacy “franchise network of choice”.
It also reported group revenue of $9.2 billion, up 5.4%, while Australian revenue was up 5.5% to $4.9 billion.
Ramsay’s statutory reported net profit after tax and after non-core items was $388.3 million, down 20.6% – although it says this was principally due to Ramsay UK recognising “onerous” lease provision, asset write downs and restructuring costs.
Ramsay managing director Craig McNally said the company had delivered a solid result during challenging circumstances.
“In Australia, the business performed well despite industry headwinds. EBIT growth in Australia was positively impacted by our disciplined cost management strategies and our focus on achieving further operational efficiencies as well as some one-off benefits.”
This includes positive upside from its pharmacy expansion in the first half of the financial year.
Ramsay says it is “committed to expanding our pharmacy franchise network”.
In December 2017, Ramsay added Queensland’s 18 Malouf pharmacies to its network, bringing the total number of its franchises to 54.
The group explains it has “temporarily slowed roll-out in order to strengthen the team and supporting infrastructure, to grow this [pharmacy] business sustainably for the long term”.
Ramsay says it is focused on ensuring the franchise network is “effectively integrated” with its hospital business.
It is aiming to become the “franchise network of choice for community based health solutions, pharmacy products and services”, says the group in its results briefing.
Ramsay Health Care operates across Australia, the UK, France and Asia.
Its shares are currently at 54.010 as of midday 30 August 2018, dropping lower than yesterday’s price at 58.160.