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Pharmacy2U made £860k loss in 2014-15

Increased distribution costs and "significant investment" in NHS marketing contributed to the loss, according to the company's latest annual report

Pharmacy2U made a loss of nearly £900,000 in the last financial year, according to its latest annual report.

The online pharmacy business made a loss of £860,000 between April 2014 and March 2015, which it attributed mainly to increased distribution costs and "significant investment" in NHS marketing, according to the report published last week (January 12).

This compared to a profit of £8,000 the previous financial year, the company said. 

However, the company's turnover increased by 3% during the period to a total of more than £17.5 million, it said.

Investment in automated dispensing

The company made a “significant investment to design and create the UK’s largest automated dispensing operation” during 2014-15, it said.

It expects this “fundamental structural change” to “vastly increase” its “operational capacity”, and allow it to capitalise on the growth of the electronic prescription system (EPS), it said in the report.

"The directors are confident that further growth opportunities can be identified and exploited," it said.

Earlier this month, the General Pharmaceutical Council (GPhC) called on Pharmacy2U to make "urgent improvements", after its move to the new automated facility meant it was unable to deliver medicines to patients over Christmas.

 


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