Pharmacy2U saw a 41 per cent increase in revenue to £60.7 million

Online pharmacy company Pharmacy2U reported 41 per cent increase in revenue to £60.7 million in the 2019 fiscal, compared to the £43.2 million in the previous year 2018.

The results, filed on the Companies House, reveal that the company has suffered an operating loss of £16 million for the year ending March 31, 2019, up from £12 million in the year before.

The documents claim Pharmacy2U “became profitable” in April 2019 with an expectation of “profitability to increase throughout the remainder of the current financial year and beyond.”

The company declared net assets of £17.2 million as of March 31, 2019.

“The group is well-positioned to deliver future growth of the core NHS repeat prescription business. The £40 million of growth capital raised on 29 March 2018 will allow the group to gain a much higher share of the NHS repeat prescription market by accelerating the existing multi-channel marketing approach,” the report read.

Pharmacy2U saw an 80 per cent increase in the number of NHS prescriptions items dispensed to 5,322,000 in 2018-19, from previous year’s 2,957,000.

The number of NHS patients registered with the pharmacy also increased by 21 per cent to 331,000.

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