Boots Q2 revenue below expectations

Boots Group PLC reported underlying second quarter sales growth at its core Boots chemists chain below market expectations.

BTC (Boots the Chemists) notched-up second quarter to end-September sales growth of 3.0% with a like-for-like increase of 2.9%. This was below sector analysts' forecasts of a rise of 3.5-4.7% and down from growth of 4.6% in the first quarter.

BTC's sales for the half year were up 3.8% or 3.6% like-for-like. The main contributors to sales growth in the second quarter was over-the-counter healthcare, up 4.2%, and cosmetics and fragrance, up 4.7%.

Boots Group's total sales from continuing operations for the second quarter were up 5.0 % and increased 4.9% over the first half.

Boots shares closed Thursday at £6.76 , valuing the company at £5.34bn (€7.5bn).

Boots has traded in the Republic of Ireland for six years. Boots currently has 16 stores in Dublin, four in Cork and 10 others throughout the country.

In September the company announced a three year expansion plan of €43m in Ireland, with the aim of opening an additional 13 outlets here.

Boots' new chief executive Richard Baker, the former Asda executive, took up his post last month.