Retail pharmacy chain China Jo-Jo Drugstores Inc. has just reported its full and fourth quarter financial results for the fiscal year ended March 31, 2010.
For the fiscal year ended March 31, 2010, revenues increased by 23.2% year-on-year to USD55.1 million and operating income increased by 40.9% year-on-year USD12.7 million. Net income increased by 44.2% year-on-year to USD9.8 million and the company opened nine new stores.
Revenues for the fourth quarter increased by 39.6% year-on-year to USD16.3 million, and net income increased by 158.1% year-on-year to USD3.9 million in that quarter.
The company, through its contractually controlled affiliates Hangzhou Jiuzhou Grand Pharmacy Chain Company Ltd.; Hangzhou Jiuzhou Clinic of Integrated Traditional and Western Medicine General Partnership; and Hangzhou Jiuzhou Medical & Public Health Service Company Ltd., operates a retail pharmacy chain in China offering both western and traditional Chinese medicine.
The chain currently has 31 stores throughout Hangzhou in Zhejiang Province. As of June 25, 2010 the company had a cash balance of USD15,488,076.