Sigma Healthcare swings to full-year loss as merger costs weigh

The news: Pharmacy wholesaler Sigma Healthcare has swung to a full-year statutory loss of $13.8 million, impacted by a $8.2 million write-off as a result of its merger with Chemist Warehouse.

The numbers: In its final results as a standalone business, Sigma reported a 45.7% jump in net revenue to $4.8 billion, while statutory earnings before interest and taxes lowered 6.7% to $21.7 million.

The company said earnings were impacted by non-recurring expenditure, including $43.5 million in costs related to its merger with Chemist Warehouse.

The context: Sigma did not declare a dividend but said directors of the new merged board will meet to determine the company's future dividend policy. It expects the dividend payout ratio to be around 50% to 70% of net profit after tax.