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Alliance Boots sales soar

Alliance Boots has reported soaring revenues in its end of year results today. Revenue increased by 15.1% to £20.2 billion for the year to 31 March and trading profit rose by 14.2% to £1.05 billion.

CITY & CORPORATE

Alliance Boots sales soar

Alliance Boots has reported soaring revenues in its end of year results today. Revenue increased by 15.1% to £20.2 billion for the year to 31 March and trading profit rose by 14.2% to £1.05 billion.

The pharmaceutical wholesale division was the best performer with revenues increasing by 23.6% to £13.94 billion. This was helped by the company’s acquisitions in the last year of Hadef Alliance and ANZAG.

Revenues for the health and beauty divisions were up by 1.7% to £7.62 billion and the Boots UK division saw like-for-like sales growth of 1.2%.

Stefano Pessina, executive chairman, said: "Alliance Boots continues to perform strongly, delivering a double digit growth in trading profit through a combination of organic growth and acquisitions, while at the same time reducing net borrowings.”

He continued: "In recent years we have made substantial capital investments, particularly in our Boots stores and supporting infrastructure. As a result, we have a strong platform for continuing growth in our core businesses and on which to build our next phase of growth, focused on international expansion."

"Looking to the year ahead, we are planning for consumer demand to be subdued and expect governments to continue to seek ways to contain growth in healthcare expenditure. In spite of this, we are confident about our future prospects both in the short and longer term. This comes from having a clear strategy, the right values, strong financial disciplines and dedicated teams throughout the group focused at all times on our customers."

The company’s chief executive, Andy Hornby, announced his departure from Boots last month in order to take time out from the corporate world.

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