Alliance-UniChem reports surge in profits
Alliance-UniChem has reported 16 per cent growth in pre-tax operating profit for the year to 31 December 2003. Actual profit was £263.4m on turnover of £8,799.3m (up 13 per cent).
In the UK, turnover rose 6.9 per cent to £1,931.2m, with an unspecified
increase in underlying margin. UK retail turnover increased by 9.4 per
cent to £784.8m, with a 6 per cent increase in like-for-like sales.
NHS prescription income rose by 11 per cent, with an improvement in operating
margins attributable to increased income from professional services and
operational efficiencies.
During the year, 33 pharmacies were acquired and one new pharmacy opened.
The rate of retail acquisitions, which had been put on hold in Britain
the year before, had been stepped up in Scotland once the outcome of
the Office of Fair Trading’s pharmacy report was known.
So far as England and Wales are concerned, the company is waiting for
the outcome of the new pharmacy contract negotiations before stepping
back into the acquisitions market.
Jeff Cooper, AU’s deputy chief executive, said there had been strong
performance in the retail division and from the northern Europe wholesale
division. Trading conditions in southern Europe had been tough and growth
was flat. |
The
Pharmaceutical Journal