Boots annual profits double in 2009/10

Published: 17-May-2010

Alliance Boots reports strong results across all sectors


Health and beauty retail group Alliance Boots has announced a strong set of results for the year ended 31 March 2010. Revenue rose 9.6% to £22.5bn, compared to the prior year. Trading profit also grew, increasing 12.7% to £1,074m, while after tax profits more than doubled to £602m. On top of this, the company reduced its net borrowing by £645m.

While the most significant year on year gains were generated within Alliance Boots’ pharmaceutical division, which enjoyed revenue growth of 10.3%, its health & beauty business also fared well, with revenue up 5.2% and trading profit up 8.5%.

“Since taking the company private, this is our third consecutive year of double digit trading profit growth. Having invested more than £1bn over the period, we are confident that we are building a platform for sustained long term growth,” said executive chairman Stefano Pessina of the results.

Pessina added that the group hoped to make further acquisitions following this year’s merger of Boots Opticians with fellow eye wear specialist Dollond and Aitchison. “Our strong financial position will enable us to continue to grow both organically and through acquisitions,” he said. “We are increasingly establishing strategic partnerships with other leading businesses to accelerate development, both in the UK and other markets.”

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