Boots boosted by beauty range and fat jabs ahead of possible return to London stock
Boots has been boosted by its beauty ranges and fat jabs ahead of a possible return to the London stock market.
The British chemist said pre-tax profits at its UK business rose by a quarter to £337million over the year ended 31 August 2025, before its private equity takeover. Sales grew 3.2 per cent to £7.5billion from £7.3billion.
It said the uplift was driven by its beauty business, having launched 61 new cosmetics and fragrance brands since last August, as well as opening two ‘beauty only’ stores in London and Bristol.
It also pointed to the continued sales growth of its No7 skincare products.
Strong demand for weight-loss treatments, which are ‘especially popular with customers’, also helped to drive a 5 per cent increase in comparable sales at its pharmacy arm.
There are hopes that Boots could be listed on the London stock exchange as its beauty business grows
Boots offers the chance to be prescribed GLP1 drugs such as Mounjaro and Wegovy, which customers can pick up in ‘as little as 24 hours.’ The weekly injectables cost up to £334 per month.
In the group’s annual Companies House filings, Boots said its pharmacists are ‘well placed to play a significant role in the provision of healthcare services’ as Britons grapple with NHS waiting lists.
But the retailer said climbing profits were offset by £44million in higher costs relating to IT projects, the rise in wages and employer National Insurance contributions, and new packaging taxes.
Buyout group Sycamore Partners broke up Boots’ former owner Walgreens Boots Alliance in August last year following its £7.4billion takeover of the US group – which created the Boots Group.
News that Currys boss Alex Baldock is set to take the reins has bolstered hopes that Boots will be listed – even as companies delay listings in the near-term due to the uncertainty caused by the war in the Middle East.
For several years, the City has hoped that Boots – which has around 1,800 shops in the UK – could list in London.
For the company, which started as a family herbal medicine shop in Nottingham in 1849, rejoining the stock market after 19 years would be a much-needed vote of confidence for the City.
A corporate break-up of Associated British Foods raised the prospect of fashion chain Primark joining the FTSE 100, while there is also hope that bookshop Waterstones could be listed in Britain too.
Industry experts believe that Boots could be valued at between £5billion and £7billion, as it cashes in on strong beauty sales.
Baldock, who is expected to be named as the new boss later this year, will be responsible for Boots stores in the UK, Ireland and Thailand, Boots Opticians, and the No7 beauty company.
These divisions have been overseen by Boots’ current UK and Ireland managing director, Anthony Hemmerdinger, since a shake-up in January saw long-time chief executive Ornella Barra step back.
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