Boots Opticians has reported revenue of £332m for the 2011 financial year, a like-for-like increase of 1.6 per cent. The figures were announced at an Alliance Boots briefing last week in London.
Alliance Boots said the increases were a result of good growth in eye test, spectacle and contact lens volumes following the introduction of new customer offers in the latter half of 2011.
'The figures were what we had hoped for,' said Alex Gourlay, chief executive of Boots' health and beauty division. 'I wouldn't say they were spectacular, but it was a solid performance. We have had to earn them, though - in a difficult market where people don't have much money.
'Eighteen months ago we looked at the market and decided to invest in value - focusing on glasses and contact lenses especially. As a result we have seen improved conversion figures. Average transaction figures are down, but more people came to Boots for eye tests and stayed to buy their glasses,' added Gourlay.
Trading profits were also higher, due to improved buying and supply chain savings, said Alliance Boots. Gourlay said De Rigo, part owners of Boots Opticians, had worked closely with frame suppliers such as Luxottica and that a switch to Essilor for the supply of lenses in particular had yielded major benefits. 'It has really surprised me how much support we have received from suppliers. It seems like there are a lot of people out there who want Boots Opticians to be a success.'
On plans for growth, Gourlay said the multiple was currently testing two types of store trial - one focused on widening practice product ranges and one that improved the look and feel of larger stores. 'We have been really excited by the results so far,' said Gourlay.