Business Services Industry
API posts loss, 'for sale' sign.
Australasian Business Intelligence, June, 2007
Byline: Fiona Tyndall
Jun 28, 2007 (The Australian Financial Review - ABIX via COMTEX) -- Australian Pharmaceutical Industries (API) has recorded an $A11.3 million loss for the year to 30 April 2007. In the previous year, API achieved a $A20.6 million profit. In the latest results, EBITDA came in at $A22.6 million, which was boosted by a $A14.2 million one-off profit from the sale of some stores. CEO Stephen Roche has stated that API is open to industry consolidation. Merrill Lynch analysts estimate that a suitor for API could be forced to pay $A2.50 per share. The group's stock fell $A0.09 on 28 June 2007, to $A2.20.
Publication Date: 29 June 2007
AUSTRALIAN PHARMACEUTICAL INDUSTRIES LIMITED - ASX API
MERRILL LYNCH (AUSTRALIA) PTY LTD...
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