China Jo-Jo Drugstores, the China-based retail and wholesale distributor of pharmaceutical and health care products through its own online and retail pharmacies, has reported a fourth quarter revenue boost of 30.1 per cent and a $3.34 million profit – overturning a $1 million loss for the same period a year earlier.

For the full year, the company increased revenue by 16.2 per cent: its online pharmacy sales soared 96.8 per cent and retail sales by 21.7 per cent. Gross profit increased $6.7 million, or by 117.2 per cent and gross margin doubled. China Jo-Jo says its online success was due to a series of online marketing efforts, expanding its presence on eCommerce platforms, like Taobao, JD.com and Amazon.com. The company also signed a service agreement with Alipay (China) to incorporate Alipay’s online payment service into its e-stores.

Lei Liu, chairman and CEO, said: “We are thrilled to close out fiscal year 2015 with a stellar fourth quarter performance.  Our official online pharmacy, experienced more than three times revenue growth year over year thanks to our strategic partnership with China’s leading Pharmacy Benefit Management (PBM) provider and insurance companies. After almost two years of restructure of which our management has shifted focuses and resources to higher growth and high margin market segment, we believe FY 2015 was a major turning point for China Jo-Jo.

“We not only achieved probability after the last two years’ major losses, but also regained the trust of our loyal customers and shareholders.

“As we accelerate our growth into 2016 and beyond, we believe our eCommerce sales will one day surpass the sales from our traditional offline pharmacy business. By leveraging our online presence, China Jo-Jo aims to become a nationally recognised pharmacy chain and a leading player in the online drugstore marketspace in China,” Lei Liu said.