in at $1.06, page-31

"Promising growth prospects, no."

You got to be kidding Stumpy!

Ageing population, positioned for increased manufacturing capacity and product aquisition. Production capacity in Australian pharmaceuticals particularly OTC and consumer goods has be stretched ever since PAN were closed down. There will also be growth in generics for Sigma once the little players get sorted out of the scene over the next year or so.

Sigma are also leading the way in wholesaling / distribution - there is also going to be some rationalisation in this area in the future which will suit Sigma. Currently things are as tight as they can get as far as margins go in wholesaling but some cost cutting (e.g. reduction in delivery costs (services to once a day)) will assist this years results. The Govt razors cant go much deeper.

Short term growth has some pressures but longer term growth for Sigma is the biggest certainty around.