Alliance Boots sees year profit rising
today Jan 15, 2010
LONDON, Jan 15 (Reuters) - Britain's biggest pharmacy chain Alliance Boots [ABN.UL] said it expected to report another year of "strong profit growth" after trading ahead of internal expectations in the Christmas quarter. "We continue to be ahead of our expectations ... putting us well on track to deliver our 2009/10 operational and financial targets," Chief Executive Andy Hornby said on Friday 15 January.
Results for the year to March 31 2010 will be published in May.
The firm, taken private in 2007 for 11 billion pounds ($17.97 billion) by Executive Chairman Stefano Pessina and private equity firm Kohlberg Kravis Roberts [KKR.UL], said revenue increased 10.2 percent in the quarter to Dec. 31, 2009 compared to the same period in the previous year.
Revenue in the health and beauty division increased 6.1 percent and was up 12.7 percent in the pharmaceutical wholesale division, or 6.1 percent like-for-like.
Like-for-like revenue at the Boots chain in the UK increased 4.6 percent, an outcome boosted by strong sales of No7 cosmetics, fragrances and electrical beauty products.
In common with a raft of other British retailers, Alliance Boots said the economic climate meant 2010 was likely to be a tough year.
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(Reporting by James Davey, editing by Rhys Jones)
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