Alliance Boots enjoys strong preliminary results

Published: 19-May-2009

Alliance Boots has announced solid preliminary results for the year ended 31 March 2009, in which the company saw a 15.5% increase in revenue to £20.5bn. Revenue for Health & Beauty rose 4.4% while the division’s trading profit soared by 11.6%.


Alliance Boots has announced solid preliminary results for the year ended 31 March 2009, in which the company saw a 15.5% increase in revenue to £20.5bn. Revenue for Health & Beauty rose 4.4% while the division’s trading profit soared by 11.6%.

Executive chairman Stefano Pessina said that the group had benefited from a strong cash flow and historically low interest rates. This has enabled Alliance Boots to buy back more than £400m of debt at a steep discount from distressed sellers, following its privatisation nearly two years ago, according to the Financial Times.

The company, which was taken private by Pessina in collaboration with Kohlberg Kravis Roberts in 2007, has been buying back debt at less than 70p in the pound and in the year to 31 March bought £191m of debt. Since then, Alliance Boots has bought another £227m of debt for just £142m of cash.

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