Boots firm reports 20% profits rise

The billionaire boss of Alliance Boots gave an upbeat assessment on trading today after revealing a 20% jump in profits for the healthcare group.

The trading surplus of £771m (€971m) in the year to March 31 included nine months of trading as a private company following the £11.1bn (€132.9bn) takeover by Stefano Pessina and private equity firm Kohlberg Kravis Roberts.

Mr Pessina, who is executive chairman, said the group continued to perform well in the current financial year, helped by strong market positions in the health and beauty retail sector and in pharmaceutical wholesaling.

He added: “We remain confident about our prospects for the year ahead, despite the weaker outlook for overall consumer spending in the UK.”