Profits dip more than 50% at Sam McCauley pharmacies

Pre-tax profits at Irish-owned pharmacy chain, Sam McCauley, halved last year to €1.94m.

New accounts filed by the Co Wexford group, which operates 28 pharmacies and employs 550 staff, show that revenues dipped by 4%, from €77.1m to €74.16m.

The chief factor for the 54% drop in pre-tax profit, in the year to the end of September 30 last, was a €1.1m write-down in the value of financial assets.