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Home Industry News Lloyds Pharmacy Profits Leap into the Green for 2023

Lloyds Pharmacy Profits Leap into the Green for 2023

24th February 2023

Admenta UK, the holding company of Lloyds Pharmacy, has finally achieved a pre-tax profit. This happened in the fiscal year prior to being bought by a European investment firm.

In April of last year, McKesson Corporation completed the transfer of ownership of Lloyds and its other businesses to Aurelius Group.

In the last fiscal year, Admenta UK reported sales of £6.31 billion, an increase of 500 million on the year before.

In 2021 they made a pre-tax loss of £25.4 million but managed to recover in 2022 with £1.3 million in the green.

The company’s representatives released a report declaring that the last financial year “was challenging for the whole country… although we saw higher wholesale volumes. The government funding model for community pharmacy in England continues to be challenging.”

“We continued to optimise the Lloyds Pharmacy estate to enable it to operate sustainably and worked collaboratively with many landlords to regear our property costs.”

The holdings company has possession of almost 1,300 community pharmacies, of which 20 are in international locations. One aspect of their strategy is for Lloyds Pharmacy to stop providing pharmacy services within Sainsbury’s shops this year.

AAH Pharmaceuticals, who has provided healthcare environments with medication and other related products since the 1800s, experienced a revenue increase of almost 200 million to £3.55 billion, although pretax profits fell about £5 million to £62.3 million.

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