Alliance Boots announces double digit full year revenue
Outlook for 2012 more subdued
Alliance Boots has announced double digit profit of £20.2bn for the year ended 31 March, 2011. Revenue for the period grew over 15%, while EBITDA was up 10.8% to £1.3m. Growth was mainly attributed to the company’s pharmaceutical wholesale division, which grew 23.6%.
The high street retailer’s profits in the heath & beauty division were less impressive however, up just 1.7% to £7.626m. Within the division, beauty & toiletries revenue grew 1% to £2.108m with sales of fragrances, accessories and toiletries all increasing on the previous year. Sales of cosmetics however were slightly lower. In the toiletries sub category, sales growth was mainly in the hair and sun care sectors, according to the company.
“Alliance Boots continues to perform strongly, delivering a double digit growth in trading profit through a combination of organic growth and acquisitions,” commented Stefano Pessina, Boots executive chairman. “Looking ahead we are planning for consumer demand to be subdued and expect governments to continue to seek ways to contain growth in healthcare expenditure.”