Lloydspharmacy parent company Celesio has reported a 2.9 per cent increase in revenue in the first nine months of 2014 compared with last year, driven by a "very good performance in the UK".

The strong position of its UK and Norway divisions had "more than compensated" for pressures on earnings in other markets, Celesio reported yesterday (October 28), which helped it generate revenue of nearly €16.5 billion (£13 billion). Profits also increased by 2.1 per cent to €319 million (£251 million).

The pharmacy division performed particularly well in the first nine months of the year, with a 7.6 per cent increase in revenue to €2.7 billion (£2.13 billion). This compared with a 2.1 per cent increase in revenue from its wholesaling division.

The positive performance is a turnaround from earlier this year, when Celesio reported a loss despite an increase in service revenue from Lloydspharmacy.

Marc Owen, chair of Celesio's management board, said the company's performance was now "in line with" expectations.

Mr Owen said a dedicated team had been set up to help integrate Celesio into the structure of American owner McKesson. He said he was "confident" the team would help to strengthen Celesio's position in the pharmaceutical and healthcare sectors in the short term.

McKesson bought Celesio in January despite initial negotiations failing due to the reluctance of stakeholders.


	Have you noticed an increase in earnings at your Lloydspharmacy branch?

We want to hear your views, but please express them in the spirit of a constructive, professional debate. For more information about what this means, please click here to see our community principles and information

UK drives growth at Lloydspharmacy parent company

Latest from News

More from Multiples