API 1.84% $1.11 australian pharmaceutical industries limited

announcement stock adjustment

  1. 2,321 Posts.
    lightbulb Created with Sketch. 97
    Why wouldnt APIs new CEO and financial management team take this opportunity to write off obsolete stock now to take advantage of the current position and make a fresh start. Its a launching pad to regaining strong profitablity.

    When you are holding $250m plus of stock in this game (most with expiry dates) stock write offs are inevitible. Margins should cover it but as we known the Govt controls wholesale margings to a large extent.

    I was close to the mark in my recent post concerning the missing $17m in that API and auditors believe it relates to an Inventory factor.

    Next year will be much better (if there is one and I hope there is). I am sure market share will pick up back to previous levels. I can tell you recent moves by Sigma to restructure Pharmacy Customer Service systems (centalised) has caused a few problems and upset many customers. I am sure API are working hard to regain ground.

    Sales are still respectable and I still believe Priceline is the Jewell in the Crown.

    If Sigma want a bargain they had better think again.



 
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