Alliance Boots reports ‘robust’ third quarter performance

Alliance Boots has expressed satisfaction with its third quarter financial performance for 2010-11 after recording a 14.3 percent year-on-year increase in group revenue.

Preliminary statistics for the three-month period ending on December 31st 2010 reveal that the company's Boots UK pharmacies have seen improved retail performance during the quarter, despite the impact of harsh winter weather.

Growth was also noted in its health and beauty division, while its pharmaceutical wholesale operations saw a major revenue expansion of 24.4 percent.

In addition, Alliance Boots has been able to broaden its international reach via the acquisition of Germany's Anzag and a majority stake in Turkey's Hedef Alliance, making the company Europe's number one pharmaceutical wholesaler.

Andy Hornby, Alliance Boots' chief executive, said: "It is likely that the financial climate will remain challenging throughout 2011. This means that we will have to continue to work hard to meet our targets for the final quarter of our financial year."

The firm is currently partway through a three-year scheme to improve its business efficiency, which commenced in October 2010.