Sales and profits hit at Boots division

The fragile Irish economy has hampered retail sales and hit profits at Boots, the British-based chemists chain.

The company said like-for- like revenue at the division fell 3.9 per cent in the year ended March 31st, 2010.

Overall revenue rose 1.1 per cent as the chain opened four new stores, including a flagship outlet in Cork. Dispensing growth at the Irish stores was well ahead of the market.

“Profits were lower due to the decline in like-for-like revenue and lower gross margins,” the company said in a statement.

The poor performance comes as Alliance Boots posted annual profits of over £1 billion (€1.169 billion) yesterday. – (Reuters)