WALTER Davidson & Sons, Scotland’s biggest independent pharmacy chain, has hiked profits by nearly 40 per cent to £2.02 million in its latest financial year.
Profits grew as the company, whose 30-plus stores are based largely in the east of Scotland, reported that turnover dropped marginally to £34.8m in the year ended January 31.
“The group has had another profitable year despite challenging market conditions,” the directors state in new accounts at Companies House. “Although turnover has decreased by 2.1 per cent, the results for the year reflect an increase in pre-tax profits of £568,700.
“This is mainly due to cost savings and improving efficiencies.”
Walter Davidson confirms in the accounts that it acquired Perthshire-based Methven Pharmacy Limited during the year.
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