Global pharmaceutical and health & beauty group Alliance Boots recorded a strong end to 2010, with revenues rising 14.3 per cent year-on-year in the three months to December 31st.
In what marked the third quarter of the company’s financial year, Boots UK retail revenue including VAT grew by 2.8 per cent on a like-for-like (LFL) basis.
For December alone the UK retail arm saw LFLs increase by 3.8 per cent, which represents an impressive feat considering how badly the cold weather affected many other companies on the British high street.
In an internal letter to Boots staff, CEO Andy Hornby commented: “Overall the group performed strongly despite the challenging trading conditions we continue to see across Europe.
“We are very pleased with our progress and are well positioned to deliver a strong financial performance in 2010/11, through a combination of organic growth and the two major acquisitions we have recently made to expand the international presence of our pharmaceutical wholesale division.
“We enter 2011 as a much broader international group with an even stronger platform for future growth.”
Indeed the pharmaceutical arm of Alliance Boots has grown considerably in recent months, as it became the major shareholder in Turkey’s Hedef Alliance and completed the takeover of Anzag in Germany.
Total revenue in Q3 grew by 24.4 per cent year-on-year, aided by the new acquisitions, while the health & beauty division - which also including Boots Opticians and non-UK businesses in that sector - increased by 1.4 per cent.