23 May 2012

Pharmacybrands doubles profit

5:35 am on 23 May 2012

Pharmacybrands' share price has surged 13% to 86 cents after announcing its profit has nearly doubled for the 12 months to March to $10 million.

The company, which operates five different retail pharmacy chains and eight medical centres, says revenues jumped to more than $105 million, from $19 million the previous year.

Chief executive Alan Wham says the acquisition of Radius Pharmacy and Medical businesses was the main contributor to the profit.

"The Radius Pharmacy acquisition effectively double the number of pharmacies in which we have an equity interest," he says.