Profit inroads for API

Australian Pharmaceutical Industries has reported net profit of $12.9 million for the first six months of its fiscal year, down 29.8 per cent on the previous corresponding period. But the previous result was boosted by $14.5 million in insurance proceeds. Underlying net profit, which excludes one-off items, rose 6.8 per cent. Sales were flat at $1.6 billion.

Australian Pharmaceutical Industries has reported net profit of $12.9 million for the first six months of its fiscal year, down 29.8 per cent on the previous corresponding period. But the previous result was boosted by $14.5 million in insurance proceeds. Underlying net profit, which excludes one-off items, rose 6.8 per cent. Sales were flat at $1.6 billion.

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