Redcare Pharmacy rises after sales increase in Q3
04/10/2024 09:24
** Shares in Redcare Pharmacy RDC.DE rise around 4% after
the German online pharmacy retailer reported an increase in
preliminary third-quarter sales and adjusted its full-year
outlook
** Redcare reported an 20% increase in group revenues, with
prescriptions sales (Rx) up 81%
** It also raised the lower end of its revenue outlook
slightly but cut the guidance for its EBITDA margin due to
increasing marketing investment
** "We are sure that analysts will like Rx revenue increase
in Q324 ... despite harsh cut in margin guidance," a local
trader says
** Brokerage Hauck Aufhaeuser said Redcare delivered strong
results ahead of expectations, while the planned marketing
investments indicate strong marketing returns
** Redcare Pharmacy is among the best performers of
Germany's mid-cap index MDAX .MDAXI
(Reporting by Chiara Holzhaeuser)
((Chiara.Holzhaeuser@thomsonreuters.com))