Biz briefs: Pharmacy owner profit up

Last updated 16:50 27/05/2014

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Pharmacy owner boosts profit

The NZX-listed owner of the Unichem and Life Pharmacy brands has announced a full-year profit of $15 million, up $2m on last year.

Revenues for Green Cross Health were up 3.8 per cent for the year ended March 31 to $257m from $248m for the previous year. Expenses jumped to $85m from $81m.

Green Cross Health will pay a dividend of 3.5 cents a share on June 23.

The company represents 300 pharmacies throughout New Zealand and holds equity interests in 70 of these.

Next Foundation head named

Bill Kermode has been appointed as chief executive of Plowman-funded charitable organisation the Next Foundation.

Kermode is a founding director of Direct Capital, which has invested more than $800 million in private companies over 20 years.

The Next Foundation was launched in March with a contribution of $100m from former towel magnates Annette and Neal Plowman.

The foundation will fund "high impact" environmental and education projects over the next 10 years. It will make commitments of approximately $5m-$15m a year to one to three projects over the project lives. Expressions of interest for grants will be accepted from June.

Kermode will take up his position at on July 1.

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