Superdrug profits leap despite flat sales
Superdrug has increased its profits to £1.3 million in 2010, despite flat sales of £1.1 billion for the past two years. The pharmacy multiple reported pre-tax profits of £9.3 million compared with a loss of £234,000 in 2009.
Operating profit more than doubled to £15.2 million for the yea ending December 25, 2010, accounts filed at Companies House showed.
The growth followed a number of successes for Superdrug, including a focus on upskilling customer facing staff and the launch of its loyalty card scheme, which hit 1 million users within a month.
Superdrug also launched the Take Another Look strategy, which saw television advertising by the company for the first time in a decade.
Online business at www.superdrug.com has seen further growth, with the business planning to continue to develop its e-commerce offer.
"With pressure on customers' disposable income and fewer shoppers on the high street, time was spent to really understand customers' needs and to create interesting and compelling offers which are tailored to meet local needs," the company said in a statement.