Alliance Boots forecasts further growth following strong Christmas

Alliance Boots has forecast double-digit growth in trading profits for the 2011-12 business year, based on its strong performance during the festive period.

According to figures from the pharmacy chain's third quarter fiscal report for the three months ending on December 31st 2011, the company's UK Boots stores saw year-on-year growth of 4.1 percent during the period.

The company's performance was bolstered by the ongoing demand for cosmetics products over Christmas, with its various gift ranges proving to be strong sellers.

Other contributors to the company's strong results included its recent international expansion, with its acquisition of German pharmaceutical giant Anzag helping to drive a 21 percent improvement in the performance of its wholesale division.

Executive chairman Stefano Pessina said: "This performance again demonstrates the ability of our group to continue to grow, despite the regulatory and consumer spending challenges facing our sector."

Last month, Chemist and Druggist reported comments from Alliance Boots' wholesale chief executive officer Ornella Barra, highlighting the firm's plans to expand its independent pharmacy network Alphega Pharmacy.