Alliance UniChem expanding UK chain
Pharmacy retailer sees strong first quarter
Alliance Unichem has continued to expand its UK store chain across the first quarter of 2004, acquiring 12 new pharmacies bringing its UK total to around 580 outlets.
In a statement timed to coincide with an analyst visit to a warehouse in Preston and one of the group’s Moss Pharmacy stores in Warrington, the European pharmacy wholesaler and retailer said it has continued to deliver a strong financial across the quarter.
Alliance Unichem, which has seen increased competition for its UK community pharmacy business from supermarket operators Tesco and Asda, said its success has been achieved through organic sales growth and an ongoing focus on margin management and cost control.
The company, which operates in countries including Italy, France Norway and the Netherlands, said trading in the retail division continues to be ‘excellent’ with 22 pharmacies acquired in total.
Alliance said performance in its associate businesses has been held back by relatively high inflation in Turkey, which hit the Hedef-Alliance’s chain’s profitability.
In its wholesale division, first quarter sales growth has been ahead of expectations in Italy and the UK, with growth in France slower ‘due to a slight delay in the market adapting to recent regulatory changes.
The group continue to seek opportunities to expand, both in countries in which it already operates and beyond, and said that “given the strong financial performance in the first quarter of 2004, which is in line with our expectations, we remain confident, as ever, of continuing our successful track record”.
