The Browns Group made a profit before tax of €2.16 million in the first six months of 2026, however changes tied to the group's international operations weighed on the results.

Browns Pharma Holdings plc published its unaudited interim financial results on the Stock Exchange.

The company has two principal subsidiaries, Browns Pharma Retail Holdings ltd which holds interests in the various pharmacy licence-holding entities, and Browns Pharma International Holdings Ltd which acts as the groups international holding company and has Mediva Pharma Ltd which operates as an aesthetics-focused pharmacy in the UK, and Lyv Ltd which is being developed as the group’s direct-to-consumer pharmacy platform.

In Malta, the group runs 29 pharmacies.

The group’s profit before tax in the first half of this year was lower than the €3.28 million registered during the same period last year.

In terms of revenue, the group made €26.9 million in revenue, which was less than the €37.3 million in the first half of 2025, although cost of sales this year was lower, costing the group 17.8 million this year when compared to €27.6 million last year.

In terms of profit after tax, the group made €1.1 million, compared to the €2.1 million in the fist half of last year.

The group has total assets worth €102.4 million.

In Malta, Browns Pharma Ltd “delivered one of its strongest trading performances in recent year: revenue up 6.5 per cent, administrative expenses down 3.5 per cent and operating profit up 20.7 per cent.” It now accounts for 85 per cent of the group’s revenue and 98 per cent of the group’s gross profit. It registered €22.9 million in revenue, and €1.8 million profit for the period (higher than the same period last year).

Rest of group

“In the United Kingdom, we moved Mediva away from third-party fulfilment towards selling directly to the consumer,” through Mediva Pharmacy, Lyv Pharmacy and the OxygenRx prescribing platform the Group said. “The fulfilment revenue came off considerably faster than the direct channels have replaced it.”

In terms of revenue, principally Mediva and Lyv, they generated €4 million, as compared to the €15.8 million last year, and moved to a €0.4 million operating loss.

Both Lyv and OxygenRX platforms entered commercial rollout, the group said, “and we capitalised €1 million of platform development, but converting them into trading at scale is taking longer than we assumed. The full benefit is a 2027 story.”

The group’s tax margin also rose from 26 per cent to 33.9 per cent.

Overall, the group said that it remains on track to achieve its full-year 2026 forecast.

“Management remains focused on maintaining the performance of the group’s established operations, while continuing to invest in and develop its international activities and technology-enabled healthcare offering.”