Boots reports rise in profits thanks to pharmaceuticals
Alliance Boots, otherwise known as Boots, reported a rise in pre-tax profits of £637million in the year to March 2011. With the retail industry struggling to cope with tough economic conditions, Boots had to thanks its pharmaceuticals arm to gain these profit figures. The trading profit of pharmaceuticals rose by 36.2pc to £320million. This is a significant chunk of how Boots gained such profits. This put into contrast how well Boots have done to weather the financial storm in retail.
I feel this business news shows what an achievement this is for Boots. This shows that even though the financial crisis is hitting the retail industry the hardest, Boots have still managed to report great profits and show signs of growing. With consumer disposable income becoming a scarcity, Boots have to thank the pharmaceutical division for its success. I feel this is a good sign for the retail industry, but also shows how difficult the retail market is coping with the financial market.
Below is an article from The Telegraph on this story:
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