Jean Coutu Group sees lift in Q4 revenues

LONGUEUIL, Québec — Canadian pharmacy retailer Jean Coutu Group has announced that fourth quarter revenues increased by 4.2%, as net profit per share remained stable.



“The results of the fourth quarter and fiscal 2015 demonstrate our good operational performance and our efficiency in implementing the business plan. Total sales have achieved solid growth, in a market which still remains very competitive,” stated François Coutu, president and CEO. "During the upcoming year, we expect to continue expanding our network and implement dynamic strategies, together with the pharmacist owners affiliated to the Jean Coutu network, in order to sustain our growth.”



Revenues, which consist mainly of sales and other revenues derived from franchising activities, amounted to Canadian $713.9 million during the quarter ended Feb. 28, compared with C$685.4 million for the quarter ended March 1, 2014.



During fiscal year 2015, revenues amounted to C$2.8 billion compared with C$2.73 billion for previous fiscal year, an increase of

2.9%.



Net profit amounted to C$55.2 million, or 30 Canadian cents per share, during the quarter ended Feb. 28, compared with C$57.7 million, or C$0.30 per share, for the quarter ended March 1, 2014.



Net profit during fiscal year 2015 amounted to C$218.9 million, or C$1.17 per share, compared with C$437.0 million, or C$2.12 per share, for fiscal year 2014.



During the quarter, retail sales totaled C$1.1 billion compared with C$1.06 billion in the year-ago period. On a same-store basis, Jean Coutu’s network's retail sales increased by 3.4 %, pharmacy sales increased by 4% and front-end sales increased by 2.7%.



For fiscal year 2015, retail sales totaled C$4.2 billion compared with C$4.1 billion in the year-ago period. Same-stores rose 2.3%. Pharmacy same-store sales rose 2.7% and front-end same-store sales increased 1.5%.



The company noted that in fiscal year 2016, it plans to allocate approximately $130.4 million to capital expenditures and to banner developments costs including $103.4 million for the new distribution center and head office. As previously announced, this project, which represents a total investment of approximately C$190 million, should be completed in fiscal year 2016.