Life Pharmacy Stores Profits Improved

Media Release

13th November, 2008

Life Pharmacy Stores Profits Improved In Challenging Market

Life Pharmacy, New Zealand’s only listed pharmacy retail group has reported significantly improved store profits compared to last year.

Commenting on the half year results to 30th September 2008released today http://www.nzx.com/news/markets/4760056 , Chief Executive Philip Ingham explained that the period featured included significantly improved store profit contribution of $424,000 this year versus a loss of $63,000 last year.

Mr Ingham commented: `We have seen sales growth on a comparable store basis in a very challenging environment. This growth has been heavily driven by an increase in the promotional programme and increased promotional use of the Life Living Card. The Living card is proving to be an excellent marketing and customer relationship tool and further development is planned.’

Other highlights include

• The development of LPL Group’s third party supply chain solution to its own members, which is due to launch this month (November 2008).
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• The purchase of Care Chemist Services Limited, franchisor business to 8 Care Chemist branded Pharmacies operating in the greater Auckland area.
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• The successful raising of $11.6m of additional capital through a rights issue to existing shareholders.
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