Boots Reports Leap In Profits To Over £1bn
The UK pharmacist Alliance Boots has reported over £1bn in profits, only the third ever UK retailer to do so.
Its trading profits rose 12.7% to £1.07bn on the back of a strong performance in its wholesale health beauty and pharmaceutical sales.
Revenue for the year up to March 31 rose 9.6% to £22.5bn.
Tesco and M&S are the only other British retailers to have had profits top £1bn.
“Although we are planning for consumer demand across Europe to remain subdued, we are confident about our prospects for the year ahead,” chief executive Andy Hornby said.
The firm expects conditions in Europe to remain “subdued” but hopes to boost revenues by co-operating with a number of other businesses.
It will launch a children’s clothing range with Mothercare, and its health and beauty products are now being trialled in some Waitrose stores.
Boots was bought in 2007 by private equity firm KKR and executive chairman Stefano Pessina for £11bn.
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Source : SKY News
