Chemist chain pre-tax profits take hit

ONE of the country’s biggest pharmacy chains, Sam McCauley Chemists, saw its pre-tax profit fall last year in what is described as an extremely difficulty trading environment.

The Wexford-based company is not ruling out further openings but sees the immediate future as being a period of consolidation. Last year it opened stores in Wexford and Clonmel.

According to the accounts the directors note last year was an “extremely difficult trading year” but said they are pleased to report an increase in turnover from €79.4 million to €85.4m in the year to the end of September 2008. It added that “not surprisingly”, in view of the current economic climate, profit before tax reduced from €4.2m to €3.4m.