Alliance Boots reports improved annual results

Alliance Boots has seen a year-on-year improvement in its financial performance during the 12 months ending on March 31st 2010.

The pharmacy supplier’s revenue for the period increased by 9.6 per cent to 22.5 billion pounds, while its underlying profit after tax more than doubled to 602 million pounds.

This was driven in part by a 10.3 per cent revenue increase in its pharmaceutical wholesale division, while its health and beauty division also saw an improved performance, including its UK operations.

Stefano Pessina, executive chairman of Alliance Boots, welcomed the announcement of the company’s third straight year of double digit trading profit growth.

He added: “We are increasingly establishing strategic partnerships with other leading businesses to accelerate our development, both in the UK and other markets.”

This comes after the firm last year announced plans to expand the global reach of the Boots brand after celebrating the 160th anniversary of the first ever Boots store opening.