Company News Summary
Sigma Pharmaceuticals Provides Trading Update
Original announcement: Trading Update
Sigma Pharmaceuticals announced its results for the full year ended 31 January 2017. It advises that underlying EBIT is expected to be just over $100m, which is 12% above last year. This compares to previous guidance of 10% underlying EBIT growth, and remains subject to audit and Board signoff. Reported EBIT is however expected to be broadly in line with last year, impacted by one-off accounting adjustments totalling almost $20m. This reflects the insurance premium recovery of $11.4m announced on 13 May 2016, and an additional provision for doubtful debt relating to a single pharmacy group.
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