Boots Ireland announces profit increase

Date : 15 January 2013

Boots Retail (Ireland) Ltd has announced sales and profit increases despite the tough economic climate.

Business expands in 2012

Boots, Ireland's largest health and beauty retailer, recorded an increase in sales and profits for the period ending 31st March 2012. Pre-tax profits were up by +11% to €17.8 million, whilst retail sales were up by 3.2% to €275 million.

The increase in profit was in part, driven by a number of cost saving initiatives, but during the year Boots also added an extra thirteen new stores, bringing the total number of stores at the year end to 71. The company has since announced a further two new stores, bringing the final total to 73.

Our view

Despite the tough trading climate, which continues to impact on consumer spending in Ireland, this is a sound result from Boots Ireland and reaffirms the company's strategy to expand its presence in the market.