The Priceline chain of stores has had a strong trading period in January and February, leading parent company Australian Pharmaceuticals Industries to upgrade its profit forecast.

API has predicted a net profit after tax of at least $21.1m for the six months which ended 28 February 2015. This figures is 30 percent higher than the corresponding period last year: $16.2m.

The CEO and managing director at API, Stephen Roche, said “The increased sales from the Priceline and Priceline Pharmacy network has again demonstrated that our health and beauty offer is resonating with our customers despite some prevailing uncertainty with the economic conditions.”

Roche attributed higher foot traffic to instore service, more prominent and targeted marketing, and the merchandise selection.

The final half year results will be released on 23 April 2015.