Pharmacy Chain 36.6 sees sales drop in FY

Russian drugstore operator Pharmacy Chain 36.6 saw sales decrease 2% to RUB20.92 billion (USD675 million) in its 2012 financial year. Net sales in the pharmacy segment increased 3% to RUB14.9 billion (USD481 million).

Net profit was RUB1.04 billion (USD33.56 million) versus a net loss of RUB288 million (USD9.29 million) in 2011. This was mainly driven by strong performance in the retail segment. During 2012, Pharmacy Chain 36.6 opened 49 new stores and closed 212 underperforming outlets.

Private label sales increased 48% in the fiscal and accounted for 18% of total retail sales. For 2013, Pharmacy Chain 36.6 plans to increase operational efficiencies and optimise its capital structure.