Walgreens Boots Alliance Posts 15.5% Rise In Quarterly Profit
Walgreens Boots Alliance Inc has reported a 15.5% rise in quarterly profit, as sales in its pharmacy business rose, helped by its acquisition of Rite Aid stores.
Net income attributable to Walgreens rose to $1.34 billion, or $1.35 per share, in the third quarter ended May 31, from $1.16 billion, or $1.07 per share, last year.
The company also said it had authorised a $10 billion share repurchase programme
Commenting on the group's performance, CEO Stefano Pessina said, "I am pleased that, in what has been a challenging environment, we have again delivered solid earnings per share growth combined with healthy cash flow. We expect to continue to drive growth, bringing more patients to our U.S. pharmacies through the recent acquisition of Rite Aid stores and through strategic partnerships.
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