Excessive rents a ‘threat’ to pharmacies

The directors of Hickey’s Pharmacies, one of the country’s largest pharmacy retail groups, have stated that excessive rents on several properties represent a threat to their business.

The directors of the family-owned firm, which operates 30 pharmacies, made the claim in accounts filed by Drishlawn Ltd to the companies office.

Operating profits at the group fell 1%, from €7.52m to €7.43m, and revenues decreased from €46.65m to €46.31m in the 12 months to Feb 28, 2013.