Walgreen Boots Alliance reports solid start for new operating model in Q2 2015

Walgreen Boots Alliance has announced its financial results for the second quarter of 2015, during which it achieved a net sales total of $26.6 billion (18.17 billion pounds).

This represents a 35.5 percent increase on the year-ago period, which was largely attributable to the merger of Walgreens and Alliance Boots. The last quarter was the company's first under its new business structure.

Net earnings attributable to Walgreens Boots Alliance for the quarter increased 185.2 percent to $2.0 billion. Its goal is to achieve an adjusted earnings per share total of $4.25 to $4.60 for the 2016 fiscal year.

The company has expanded its cost restructuring programme to fiscal 2017, building on a previously announced cost reduction initiative. It is also working with an executive recruiting firm to find a new permanent chief executive officer.

Stefano Pessina, executive vice-chairman and acting chief executive at Walgreen Boots Alliance, said: "This quarter marked a solid start for our new company, and I remain as optimistic as ever about our long-term future."

Walgreen Boots Alliance operates in 25 countries, with more than 12,800 stores, over 370,000 employees and in excess of 340 pharmaceutical distribution centres worldwide.