Boots posts 10% profits fall
27/10/2005 - 07:43:33Retailer Boots posted a 10% fall in profits today after counting the cost of weaker consumer spending and a plan to overhaul its estate.
The group, which is to merge with Alliance UniChem next year, achieved half-year profits of £163m (€240) following a 1.3% decline in like-for-like sales at its core business of 1,400 Boots the chemist shops.
Boots spent an extra £45m (€66.3m) in operating expenses, as a result of store-based investments, but still managed to beat City forecasts for a profits figure of about £151m (€222.4m).
