Boots Ireland generates €367m in revenue for last year

The Irish arm of pharmacy chain Boots reported a trading revenue of €367 million for the 12 months to the end of August last year.

Revenue for the previous period was €452 million, albeit this was for 17 months due to a change in the group’s reporting period, ruling out a like-for-like comparison.

The chain, which has over 80 stores in Ireland employing around 1,600 staff, generated revenue of close to €300 million for the 12 months to March 2014.

The latest accounts show the group generated profit of €22.4 million, which compares favourably to the €23.7 million reported for the previous 17-month period.

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Net assets for the Irish unit, whose ultimate parent is Walgreen Boots Alliance in the US, totalled €183 million versus €160 million at the end of the prior reporting period.

The company said there had been a restructuring of the senior management team at the start of the latest financial year. It also noted that it had opened two new stores, both of which included a pharmacy.

Boots Ireland said it could be “adversely affected” by the impact of Brexit on key suppliers and customer groups.

In terms of mitigating the risk, it said it had a rigorous process for identifying and monitoring all business criticl to suppliers and that it would develop an appropriate contingency plan for suppliers it considered vulnerable.