Boots The Chemists
| 12 months to 31st March | 2004 £m | 2005 £m |
Like for Like | |
|---|---|---|---|---|
| Sales | 4,479 | 4,651 | +3.8% | +2.4% |
| Gross margin movement | -30bp | -80bp | ||
| Operating profit | 533 | 470 | -11.8% |
Notes
Turning now to Boots The Chemists performance highlights.
Sales at £4,651 million are up 3.8% in total or 2.4% on a like for like basis. The contribution from new space is 1.4%.
Gross margin percentage was 80bps down on the same period last year, slightly better than the 110bps decline we had budgeted.
The costs of renewing the infrastructure and investing in new space mean that operating profits are 11.8% lower at £470 million.
