Boots to expand in Ireland

AS second-half profit at Boots Group Plc’s plummeted by 31% the company said Ireland continues to be its best performing territory.

Boots, the biggest pharmacy chain in Ireland and Britain, fall in profits as took charges for discontinuing services such as aromatherapy and massages and offered customer more discounts to compete with supermarkets in Britain.

As Boots sheds jobs in the UK it continues to expand in Ireland with plans to add new stores in Sligo and Clonmel to its existing 28 stores employing close to 1,000.

The company contributes €165m annually to the Irish economy, the company said, through the sourcing of goods and services for its Irish and UK businesses.

Boots Group Plc’s net income dropped to £165.6 million pounds in the six months through March, from £240 million pounds in the same period of 2001.

Boots has lost business to supermarkets such as Tesco Plc and Wal-Mart Stores Inc.’s Asda, prompting the company to cut prices, spruce up stores and stop some beauty treatments.

Nottingham, England-based Boots hired Richard Baker from Asda as chief executive to take over in September.

Boots, which was created by John Boot in 1849 as a seller of herbal remedies, took charges totalling £141.5 million in fiscal 2003.

They covered the cost of selling Halfords, a car- parts retailer, and withdrawing services such as homeopathic counselling and facial treatments. In fiscal 2002, Boots took charges of £24.5 million.