Profits at Sam McCauley rise

Pre-tax profits at pharmacy chain Sam McCauley Chemists increased by nearly €2m last year, to just over €3.61m, accounts filed with the Companies Registration Office show.

The accounts — covering the 12 months to the end of Sept 2011 — also show group operating profit rising from just under €2.25m to nearly €6.3m.

The Co Wexford-headquartered group, which will celebrate 60 years in business in 2013, also generated revenues of €80.34m for the year; although this was marginally down on the 2010 turnover figure of €81.15m.

Management said the year was one of consolidation, relating to store portfolio and debt reduction; but also described the financial performance as being “very satisfactory, reflecting “maturation of newer outlets and prudent management of our cost base”.

Sam McCauley is one of the leading pharmacy chains in the country, operating 26 stores nationwide and employing nearly 600 people.

The group’s last financial year saw one new store opening in Co Waterford and the relocation of its outlet in Clonmel, Co Tipperary.

The company also has a successful online sales presence through its retail partner, Buy4Now. In terms of its ongoing development plans for the current year, further consolidation and debt reduction top the agenda.

“A major investment in our IT systems — to integrate all aspects of our business front-shop Epos to financial control — will be rolled out. The company will also invest in new robotic dispensing systems in a number of outlets,” the company said.