Green Cross Health has recorded a net profit after tax attributable to its shareholders of $8.3 million, up 19.5 per cent on the same period last year.
This was underpinned by a solid performance from its pharmacy division.
“Our income statement shows the significant change due to the acquisitions made in the second half of last year, with revenue up $78.2 million, with $51.6 million being contributed from our new community health division,” said a Green Cross Health spokesperson.
“During the six-month period the group refinanced its debt position and paid out a special dividend of $20.4 million, being 15 cents per qualifying ordinary share to shareholders fully imputed to 28 per cent.
“In August we welcomed Dr Tony Edwards to the Green Cross Health board of directors.”
Edwards was a founding shareholder and director of “The Doctors” group which is the group upon which the current Green Cross Health Medical division has evolved.
Edwards’ wealth of experience in the medical sector will significantly add to the governance and growth of the group’s business.
In addition: pharmacy division revenues were $138.4 million and same stores retail growth up 14.5 per cent compared to the same period last year; medical division revenues were up by $15.8 million on last year mainly due to the Peak Primary acquisition; the community health division contributed $51.6 million in revenues; payment of a special dividend of 15 cents per share is due to shareholders with a further interim dividend of 3.5 cents per share payable in December 2015; an increase of pharmacy membership in the group to an all-time high of 326 pharmacies took place; and acquisition of the remaining 50 per cent shareholding in Total Care Health Services took place.
Pharmacy net profit before tax was $12.6 million, up 13.7 per cent on last year, largely resulting from retail sales being up 14.5 per cent and dispensary sales up 3.8 per cent on a same store basis.
The key drivers for this have been the impact from the continued rollout of pharmacy rebranding, the growth of the Living Rewards customer engagement program and targeted marketing and promotions.
