DEERFIELD (dpa-AFX) – At pharmaceutical wholesaler and drugstore group Walgreens Boots Alliance, profits again declined significantly in the first quarter. From September to November 2019, operating profit declined 27.6% year-over-year to around $ 1 billion (around € 895 million), like that of the American Dow Jones Stock Index businesses in Deerfield, Ill. announced Wednesday. The reason was, among other things, a tightening of austerity measures. In addition, the takeover of large parts of the drugstore and drugstore chain Rite Aid depressed the result. Before the start of trading, the stock market’s share fell by around 4%.
Ultimately, profit attributable to shareholders of the Group declined by about a quarter to $ 845 million. In terms of sales, the group again achieved a slight increase of 1.6% to 34.3 billion dollars.
For the current fiscal year, which runs until the end of August 2020, the management around CEO Stefano Pessina continues to expect only moderate growth. Adjusted earnings per share based on stable exchange rates are expected to continue to be between minus and plus three percent from a year ago.
Walgreens is also sticking to the recently tightened austerity policy. The group considers itself on track to reduce annual costs by more than $ 1.8 billion by 2022.