The directors of Indies Pharma are reporting a decline in net profits to $174.6 million on revenues of $1.12 billion during the year ended October 31 this year.
This compares with net profits of $221.2 million on revenues of $1.3 billion during the previous year.
The company says the reduction in its revenues and profitability this year in comparison to last year was due to software challenges on the government's platform which resulted in later rivals of out-of-stock items.
This affected sales and revenue flows during the last two quarters of the year as well as the devastating impact of Hurricane Melissa.
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