- Georgia Healthcare Group said Friday outperformance in its pharmacy and distribution business bolstered revenue and earnings growth for the year.

For the year ended 31 December, earnings (EBITDA) jumped 22.3% to GEL 132.3m and revenue increased 13.7% to GEL 849.9m. The upbeat results were underpinned by pharmacy and distribution revenues of GEL 141.0m, up 15.2% from a year earlier.

The pharmacy and distribution business has exceeded expectations, with strong revenue growth, further expansion of its nationwide network, and an EBITDA margin in excess of 10% for the year, comfortably ahead of our initially targeted more than 8%, the company said.

For 2019, the company said it expected to substantially reduced its investment programme, and increase in operating cash flow, both of which should allow it to cut debt and an increase cash year on year.

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