Alliance Boots revenue up 14pc

Alliance Boots has announced 14.1 per cent growth in revenue for the third quarter compared to last year, driven by expansion in the firm’s pharmaceutical wholesale division.

The company’s high street Boots stores also enjoyed a strong end to the year with like for like revenue up 4.1 per cent in the five weeks to December 2011 as shoppers made last-minute Christmas purchases.

Most of the 21.3 per cent revenue growth in the wholesale division can be attributed to the group’s acquisition of German pharmaceutical wholesaler ANZAG.

Without this expansion like for like wholesale sales were up only 1.6 per cent.

Stefano Pessina, Executive Chairman of Alliance Boots, announced the results in an email to staff, stating that he expected the firm to meet its financial targets for 2011/12 and achieve double-digit trading profit growth.

Pessina said: “Overall the Group performed strongly in the quarter, driven by our differentiated product offering, excellent customer care and service, our transformational programmes and international expansion. We are very pleased with our progress and, as a result, remain on track to deliver our 2011/12 operational and financial targets.”