HIGH Street retailer Superdrug has reported a pre-tax loss of £243,000 for the year to December 2009, against a loss the year before of £7.4m.
The firm has pulled its operating profits out of the red to report a £6m gain, compared to a loss of £2.4m last year.
Sales were broadly flat at £1.1bn, according to figures filed at Companies House yesterday.
The health and beauty retailer said supermarket expansion and a slowdown in shopping centre construction had dented takings, but that it had undertaken cost-saving initiatives in its 900 UK stores, including cutting back on slower-moving stock.
The UK’s second-largest health and beauty retailer, behind Boots, said it has refocused on customer service by training staff and introducing store-specific offers and products.
Jeremy Seigal, chief executive of parent company AS Watson said: “This year the focus
on a local approach has seen dividends. 2009’s performance gives the business a firm foundation for the future.”
Superdrug was hit hard by the recession, posting losses of £7.4m in 2008 after a profit of more that £21m in 2007. It was taken over by Asian retail group AS Watson in October 2002.
The group posted pre-tax profits of HK$43bn (£3.65bn) for the year. Mobile phone company 3 Group, also part of AS Watson, made a worldwide profit of £14.9m.
