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Pharmacy 36.6 posts FY 2009 net loss of 359.4 million Roubles

Pharmacy 36.6 posts FY 2009 net loss of 359.4 million Roubles
Russian pharmaceutical retailer, 36.6, has posted a FY 2009 net loss of 359.4 million Roubles under IFRS.

The company narrowed its net losses for the year by 78.1% from FY 2008 net losses of 1.640 billion Roubles, with EBITDA growing 103.1% to 1.421 billion Roubles, as revenue fell 17.4% year-on-year to 21.061 billion Roubles,.

The company said in a statement that the decrease in revenues was largely due to closures in non-performing stores, partial shortages of products as a result of working capital decline and a decrease in consumer demand. Pharmacy 36.6 noted that like for like sales fell 17% year on year but that the like for like average check had risen 11% in Rouble terms, and that group financial debt had risen 69.5% year on year to 7.441 billion Roubles.