api - thoughts

There seems to be some focus on API losing out big time
to supermarkets,etc, yet whenever I look I usually see a
basically empty isle, particularly @ Woolies. Apart from small incidental items I see so far, little take-up.

Chemist W/house spends large on advertising ,surely this
coupled with selling heavily discounted lines , and paying
top level rents all dilute profits greatly ? .Their stores
only seem to work surrounded by other chemists that do much "complimentary " sales to the public .
If C/Warehouse has been given initial generous terms from Sigma,how will they perform as/when this is wound back?

The 52$ million in loans to Pharmacy customers has been
around for a long time,and is now factored in more critically ,because of changed accounting ,that treats loans and guarantees as possible total losses, which of
course is true in all such situations.

The 42$ million store modelling asset charge' seems to be
the reduction on the amountof value that was projected .

NPAT up 29 % + Priceline sales growth of 5.3% seem to of
been overloked a tad . imho ..