Boots sees benefits in US partnership

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ALLIANCE BOOTS said it had seen more benefits than expected so far from its partnership with US drugstore operator Walgreen, and reported an 18.5 per cent rise in underlying attributable profit.

Walgreen bought a 45 per cent stake in Alliance Boots in 2012, with an option to buy the rest in 2015.

Alliance Boots, which runs Europe’s largest pharmacy chain, reported sales for the year to March 31 rose 4.3 per cent to £23.4bn. Underlying profit was £840m.

The group, led by Italian billionaire Stefano Pessina, said it faces a slow recovery in the UK.