“Pharmacy chain 36.6” in I half-year reduced net profit under IFRS 17 times

OJSC “pharmacy chain 36.6” in the first half of 2016 compared with the previous year reduced net profit under International financial reporting standards 17 times to 33 million rubles. This is stated in the message of the company.

For reference: in January-June 2015 net profit of “Pharmacy network 36.6” under IFRS amounted to 572 million rubles.

Revenues amounted to 22.7 billion rubles, which is 40.1% higher than in the same period last year.

Recall that the “pharmacy chain 36.6 was founded in 2003, and in the same year the company went IPO. In November 2013, the largest shareholders of OJSC “pharmacy chain 36.6” Artem Bektemirov, Sergei Krivosheyev and Hi Capital Fund of Roman Avdeev), total of which controlled more than 50% of the shares, the company reached an agreement with the owners of pharmacy chain A. V. E about the merger.

A. V. E Group was established in may 2011 by former managers and shareholders of the pharmacy chain A5 Ivan Saganelidze and Vladimir Kintsurashvili. In September 2012 A. V. E has teamed up with Moscow pharmacy chain Gorzdrav”, which Igor Gebarowski and Temur Shakaia got 45% in A. V. E in equal shares.

In June 2015, completed the consolidation of assets, which resulted in the pharmacy chain A. V. E became part of the group of companies “36.6”. Controlling shareholder “36.6” is Palesora Ltd (its owners: Kintsurashvili, Saganelidze, Shakaia and Gebarowski).

“Pharmacy chain 36.6” in I half-year reduced net profit under IFRS 17 times 31.08.2016

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