Profits soar as Boots enjoys post-pandemic boom
Pre-tax profits at Nottingham-based Boots tripled in the year to August 31 2022, according to newly-filed accounts.
The health and beauty retailer posted a pre-tax surplus of £137m over the 12-month period – up from £44.m in 2021. Sales rose by 10% to £7.8bn.
Reports earlier this year suggested that Boots owner, Walgreens Boots Alliance, was mulling over a sale of the business for the second time in 14 months.
A joint offer from private equity heavyweights Bain Capital and CVC Capital Partners and a £5bn bid by Apollo Global Management and Reliance Industries came to nothing in January 2022 after both failed to meet Walgreens’ asking price of £7bn.
Boots was taken private in 2006. Walgreens snapped up 45% of Alliance Boots in 2012 and took charge of the remainder of the business two years later.
The company employs around 53,000 people in the UK and Ireland.
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