Feb 22, 2017 12:11 AM EST
Australian pharmacy group Terry White Group, which is now trading as TerryWhite Chemmart, has doubled its half year revenue from $16.9 million to $33.9 million for the half year ending Dec. 31, 2016, which the group has attributed to the merger of the two companies.
The group posted a 66-percent increase in its earnings before interest, tax, depreciation and amortization of $3.4 million for the half year compared to the previous corresponding period.
According to Anthony White, TerryWhite Chemmart CEO, the past six months had been transformational, with the two pharmacy groups joining forces to create the largest retail pharmacy network Down Under, with approximately 500 pharmacies nationwide.
White said the merger has cemented their position in the market, providing their company owners with a highly competitive offering, while establishing TerryWhite Chemmart with a solid platform for continued expansion.
"We operate in a highly competitive industry and are now in a much better position to meet the evolving needs of our customers," White said. "As a result of the merger, TerryWhite Chemmart members have access to substantially increased infrastructure which will deliver improved in-pharmacy efficiencies, increased levels of customer services and better access to leading frontline healthcare."
The group was quick to rollout its new brand, which is aligned to TerryWhite Chemmart's strategic position as leaders in the delivery of highly accessible frontline healthcare, White said. He added there are already ten pharmacies operating under the new brand and, by the end of 2017, all pharmacies within their expansive network will be operating as TerryWhite Chemmart.
TerryWhite and Chemmart have merged last year and in October, following the pharmacy groups' merger, TerryWhite and Chemmart have launched a new pharmacy brand.
The new pharmacy brand follows the shareholder approval of the merger, which will create one of Australia's largest retail pharmacy networks with approximately 500 pharmacies and $2 billion in retail turnover.
Retailers can manipulate consumer regret to beat competitors
The French luxury group gains full control of the 70-year-old Parisian fashion house Christian Dior in a mammoth deal worth around €12.1 billion.
UK luxury fashion retailer Burberry posts lackluster set of results for its second half following an impressive result in the third quarter, a retail analyst stated.
What seemed like a perfect hacking operation turned out to be a failure as Kaspersky has spotted a mistake on the part of the Lazarus hackers. It found a brief connection that came from North Korea - proving their identity and origin.
A lawsuit has been filed by a Democratic political consultant and Fox News contributor on Monday alleging, among others, that Roger Ailes denied her of a permanent hosting job after she turned down his sexual advances.
South African leader, Jacob Zuma, has sacked finance minister Pravin Gordhan in a move that drove the country's currency down five percent in value. The president calls for a midnight reshuffle in his Treasury members who he felt were disloyal to his political intentions.
The US president has long promoted a change on how foreign businesses should run their operations - and that is to revive American manufacturing. Uniqlo head showed he didn't like being given an ultimatum by Trump.
Cemex, one of the world's largest cement producers, has not participated in the first round of bids that is currently underway but said it is open to providing quotes to supply the raw materials for Trump's promised border wall.
Arket, which means 'sheet of paper' in Swedish, will cater to a modern-day market with products for men, women, children and the home.