AAH Pharmaceuticals saw its pre-tax profits fall for the year ending March 31, 2025, the wholesaler’s company accounts have revealed.
Published this week (December 15), the filing said the company’s pre-tax profits sat at around £56m at the end of the 2024/25 tax year, down from almost £67m the previous year.
This represents a drop in profits of £10.8m, or 16%.
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Turnover also fell in 2025, dropping to £2.9bn from £3.09bn the year before, it said.
“Sales have declined by 4% year over year”, the filing said, “primarily due to the completion of the group’s divestment of Lloyds Pharmacy stores during 2024”.
But it added the decline “has been partially offset by efforts to build and strengthen relationships with the new third-party owners who have taken over former Lloyds Pharmacy locations”.
Ongoing pressures
Despite this, the filing said that it was a “successful year” for AAH as a “standalone business”, with the wholesaler “building on the significant restructuring undertaken in the prior year”.
The business was able to “outperform its key financial metrics” in the 2025 financial year, delivering “strong cash generation” and “improved profitability”, it added.
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It acknowledged, however, that AAH “operates in a market which is highly competitive, particularly around price, service levels and product availability”.
“There is, as a result, ongoing downward pressure on margins with the additional risk that the company will not meet customer expectations”, it said.
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It added that to mitigate this risk, the company “monitors the market to understand customer and supplier expectations”, as well as working to “evolve and enhance its value proposition”.
And the filing stressed that despite these pressures, the company “expects to continue its successful record by focusing on customers’ needs through competitive market pricing, reliable service delivery” and a “high level of customer service”.
C+D has approached AAH Pharmaceuticals for comment.
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It comes after a Companies House filing revealed in October that Day Lewis has seen pre-tax losses hit more than £4m in 2024/25, down from a profit of almost £8 million the year before.
The accounts for the year ending March 31, 2025 also showed that the company’s sales increased to £506.8m over the same period, compared to £502.1m the previous year.
