API is building momentum with the Priceline Pharmacy franchise model.
We maintain our fair value estimate of AUD 2.15 per share for narrow-moat Australian Pharmaceutical Industries, or API, following the release of interim results that met our expectations. At current levels, shares are trading broadly in line with our intrinsic value assessment. Underlying net profit after tax of AUD 29 million on group revenue of AUD 2,015 million, representing increases of 15% and 12.7%, respectively, reflected an 18% increase in pharmacy distribution revenue. Excluding the imp...Australian Pharmaceutical Industry is a service provider to the pharmacy industry. Co. operates two segments, Australia and New Zealand. The Australia segment is engaged in the distribution of pharmaceutical, medical, health, beauty and lifestyle products to pharmacies, the purchase and sale of various health, beauty and lifestyle products within the retail industry and provider of retail services to pharmacies. The New Zealand segment is engaged as a manufacturer and owner of rights of pharmaceutical medicines and consumer toiletries.
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