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Shares in Sigma Pharmaceuticals Limited (ASX:SIP) have risen after posting healthy annual profit growth and flagging improved revenue growth and gross profit over the year ahead.
The pharmaceuticals company’s net profit jumped to $53.5 million in the year to January 31, 2014 as underlying net profit after tax rose above analyst expectations to $52.3 million.
Looking ahead the company expects to achieve revenue growth above the dampening effect of ongoing government PBS price disclosure reform in the coming year.
Sigma has also flagged improvements in gross profit thanks to a continued focus on tightening trading terms and efficiency gains in warehouse and logistics costs.
The announcement comes just one day after Sigma said it will spend $24.5 million to buy smaller rival Central Healthcare.
A fully franked final dividend of 2 cents per share has been declared.
