July 2002 issue Pharmacy Today magazine

BEAUTY DIRECT PHARMACY CHAIN JUST SPECULATION

A newspaper report suggesting Beauty Direct and Online is to set-up a pharmacy chain is speculative, says shareholder and director Gordon Ritson.

The Christchurch Press quoted "sources" claiming the company may try to establish a pharmacy chain once proposed ownership regulations are in place.

The Wellington pharmacist and Pharmaceutical Society councillor says the report is based on speculation and Beauty Direct and Online had no input into the story.

He says it is too early to say whether the company will launch bricks and mortar outlets.

When Gordon Ritson invested in the company last year, he said his initial goal was to make it break even.

That is expected to happen during the current financial year after the latest annual results stated a loss of $493,000 - a 40% improvement on the previous year.

Last year, shares fell from 26 cents to less than 6 cents. Prices have since stabilised and were steady at just over 12 cents when Pharmacy Today went to press.

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