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Walgreens profit surges 68% on strong pharmacy, retail sales

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Oct 14 (Reuters) – Walgreens Boots Alliance Inc (WBA.O) reported a 68% surge in fourth-quarter profit on Thursday attributable to greater sales at its pharmacy shops within the United States and the United Kingdom, as COVID-19 restrictions eased within the quarter.

Walgreens, one of many largest U.S. pharmacies, has additionally been registering greater sales from administering COVID-19 vaccines and booster photographs as Delta variant circumstances surged in the course of the quarter.

Shares of the corporate have been up 2.4% earlier than the bell.

As of Aug. 31, Walgreens had administered greater than 40 million COVID-19 vaccines, of the whole 370.2 million photographs administered within the United States.

Same-store sales at its U.S. pharmacies rose 8.8% within the fourth quarter because it stuffed 313 million prescriptions.

Net revenue attributable to the corporate was $627 million, or 72 cents per share, for the quarter ended Aug. 31, in contrast with a profit of $373 million, or 43 cents per share, a yr earlier.

Revenue rose to $34.26 billion from $30.37 billion.

Reporting by Dania Nadeem and Leroy Leo in Bengaluru; Editing by Vinay Dwivedi

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