Sigma hit by Chemist chain loss

SIGMA Healthcare shares plunged to a seven-year low after the company announced it had lost its contract to supply the Chemist Warehouse discount chemist chain from mid-2019.

Sigma shares closed down 32.5¢, or 40 per cent, at 48.5¢. after the company said it could not reach an agreement on terms for an extended contract with the My Chemist/Chemist Warehouse Group, which has a number of stores throughout Australia.. The company also announced a cut to its earnings guidance, saying 2018/19 underlying earnings will be $75 million for the current year, down from $90 million.