Brown’s Pharma Holdings plc, the holding company of retail pharmacy company Brown’s Pharma Limited, has recorded a net profit of €2.120 million in 2021.

This figure means the company recorded a sizeable increase of 71.30 per cent from the net profit of €1.238 million recorded in 2020.

Additionally, a revenue of €31.159 million was recorded throughout the year, a 26.65% increase on 2020’s figure.

There was also a steady increase in Brown’s Pharma Holding’s gross profit margin, with 2020’s 29 per cent rising to 33 per cent in 2021.

The holding company also ended the year with an impressive €3.836 million in net cash generated from operating activities, therefore recording a 58 per cent increase from the previous year’s figures.

Commenting on the results, Chief Executive Officer Alexander Fenech said “Our year end results exceeded expectations, reflecting a strong operational performance as the group benefitted from Malta’s gradual post-COVID return to normality.”

“Credit goes to the group’s management team, and our superstar frontliners and back-office crew for their unwavering commitment to serve our customers notwithstanding the difficult circumstances created by the pandemic,” Mr Fenech added.

Brown’s Pharma Holdings is the holding company of Malta’s largest pharmacy chain, Brown’s Pharma Limited, which owns and operates 21 outlets throughout the island.

Founded in 1998 by Robert Spiteri and Alexander Fenech, the company aims to “be a leading retail pharmacy business, seeking consistent and sustainable growth by engaging highly motivated people with cutting edge technology and business processes to meet and whenever possible exceed customer expectations.”