GERMANY: Phoenix Sees Modest Rise In H1 Revenue

The Phoenix pharmacy group has reported a modest rise in revenue for its fiscal first half, helped by its recent acquisitions.

Overall revenue was up 2.7% year-on-year to €14.6bn (+3.8% on a constant-currency basis), with sales up 1.9% to 11.9bn (+3.2% constant-currency).

Gross profit was up around 2% to €1.2bn, with margins rising to 9.7%.  However, operating profit edged down slightly to €143.3m.

“The PHOENIX group sat in the first half of 2016/17 continued its sustained profitable growth. Our interlocking business activities in the wholesale and retail trade and targeted acquisitions as the Mediq acquisition in the Netherlands will strengthen our leadership position in Europe, “said Oliver Wind Wood, CEO of the PHOENIX group.