An update on our progress
- What we are doing to modernise Boots
- How we are competing
- Our efficiency programmes
- Preparations for Christmas
Notes
Good morning everyone.
When we spoke to you six months ago we presented a plan which will make Boots The Chemists a strong and valuable business for our shareholders through focusing on making it modern, competitive and efficient.
In March, we indicated that we would need to address the prolonged under-investment in Boots The Chemists and that 04/05 would see the start of this programme.
Over the course of the next few minutes I shall update you on the changes that have taken place, as well as outlining the challenges ahead.
The first two parts of our plan, modern and competitive, are primarily customer focussed and address the two key consumer trends of recent times - the demand for more convenience and better value.
The third part of our plan is about operating more profitably for our shareholders by becoming more efficient.
We start from behind in these areas, and have to move faster than competition to make up ground. Against this background of change and some disruption - we have continued to grow sales.
