Pharmacy retailer Fontana is reporting a 13 per cent decline in annual profit despite posting record revenues for the year ended June 30.
The company posted net profit of $507.8 million, representing a 12.9 per cent decline from the amount earned a year earlier.
Revenue increased, however, by 12.4 per cent to $10.7 billion, but higher administrative and operating expenses weighed on earnings, with administrative and other expenses rising by 19 per cent to $3.26 billion. Finance costs also increased to 280-point-9 million dollars.
On the balance sheet, total assets stood at $6.61 billion at the end of June.
The company also paid dividends of $312.3 million during the financial year.
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