Rise in customer footfall sees profits at Boots Ireland jump one fifth

Despite an uptick in pharmacy locum costs and a sharp increase in distribution costs from slightly more than €175 million in 2021 to €187 million last year, operating profits at the high street giant’s Irish arm soared by 13.6 per cent to more than €33 million primarily due to “stronger revenue performance”.

Boots Ireland opened two new stores in the year to the end of August bringing to 92 the number of outlets it operates in the Republic. However, staffing costs declined by 3.5 per cent to €68.7 million as the group’s headcount declined from 1,706 to 1,646 by the end of the company’s financial year. Boots is expected to shutter a number of stories in Northern Ireland over the next year as part of a wider plan by the group to close around 300 outlets across the UK.

The decision, which will not affect the group’s footprint in the Republic, was announced in June after the pharmacy retailer’s parent group, Walgreens Boots Alliance, slashed its earnings forecast for the year amid weak demand for Covid-related services and “more cautious and value-driven” behaviour among consumers.

Boots reported a 6.9 per cent increase in footfall in the year and a 25 per cent increase in digital sales. But the wider group reported a small decline in same-store sales at its retail division compared with estimates of a 2.1 per cent increase.

Ireland Latest News, Ireland Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

Boots Irish stores raked in €475m in sales last yearCosts also rose substantially, leaving firm with €48 million in profit
Source: businessposthq - 🏆 8. / 71 Read more »

Irish-listed healthcare firm Uniphar sees organic profits soar by 5%Group accounts for over one fifth of the Irish retail pharmacy market
Source: businessposthq - 🏆 8. / 71 Read more »

Irish-listed healthcare firm Uniphar sees organic profits soar by 5%Group accounts for over one fifth of the Irish retail pharmacy market
Source: businessposthq - 🏆 8. / 71 Read more »

Uniphar racks up organic profit growth of 5% in first halfOutperformance of supply chain and retail division helps drive performance
Source: IrishTimesBiz - 🏆 6. / 77 Read more »

TD brands Curragh 'Ireland's most derelict town' over crumbling homesThere are more than 62 crumbling vacant houses across the Curragh military camp in what one local TD has called 'Ireland's most derelict town'.
Source: thejournal_ie - 🏆 32. / 50 Read more »

'They've had their share of heartache' - Chasing first senior All-Ireland in 78 yearsWaterford will meet Cork in this year’s All-Ireland senior camogie final.
Source: The42_ie - 🏆 5. / 86 Read more »