Boots profits boosted by pharmacy sales
By Sarah Wood | 2nd July 2021
Boots' parent company Walgreens Boots Alliance has recorded an operating income of £796.7 million ($1.1bn) in the third quarter, compared to a loss of £1.2bn ($1.7bn) a year ago.
The increases reflect strong adjusted gross profit growth across pharmacy and retail in the USA and a rebound in international sales and profitability, as a result of less severe Covid-19 restrictions in the UK in 2021.
Here in the UK, Boots pharmacists administered over three million Covid-19 tests last month, the majority in partnership with the NHS. It also has a growing private test service, including partnerships with several major airlines and a number of at home and in-store tests available.
Boots UK pharmacy sales were up 3.7 per cent on the same quarter last year, reflecting stronger pharmacy services and favourable timing of NHS reimbursement, partially offset by a lower volume of prescriptions.
Boots UK comparable retail sales increased 38.7 per cent compared with the year-ago quarter. While shops had only just opened at the end of the quarter last year, Boots is an essential retailer which traded throughout all of the national lockdowns.
Boots stores airports and train stations continue to face challenges, but online sales were up 42.3 per cent on the same quarter last year.
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