Sigma Healthcare's full-year profit has fallen by a third to $36.5 million after the drugs wholesaler started restructuring in response to the loss of its supply deal to Chemist Warehouse pharmacies.
Sigma, which this month rebuffed a merger proposal by Priceline owner Australian Pharmaceuticals Industries, recorded $9.2 million in post-tax restructuring and dual operating costs as it embarked upon a project it says will make $100 million in efficiency gains over two years.
Underlying earnings before tax of $76.2 million beat September's guidance of $75 million and chief executive Mark Hooper said Sigma would have "a growth mindset to capture the emerging opportunities we see for the business".
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