The company said half-year figures for its health and beauty division has seen profits rise by 2% thanks to the Protect and Perfect creams.
Despite revenue for the company as a whole rising by 6% to £8.9bn, Boots has announced its plans to cut 900 non-store UK jobs in order to cut costs.
With plans to save £56m per year by 2013-14, Boots has announced the majority of cuts will take place in Nottingham, the headquarters of Alliance Boots in the United Kingdom.
Chief executive, Alex Gourlay said the move would allow the company to “have a stronger and more agile support infrastructure fit for the long-term future.”
http://www.plimsoll.co.uk/industry-report.aspx?Industry=beauty-products
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Due to weak demand in Europe, sales of industrial chemicals, which make up less than 2% of the group's operating profit, fell by 11.9% to £24.4 million. Because of this, operational earnings decreased by 45.8% to £1.3 million. As long as the industrial chemicals division continues to generate profits, Croda has no intention of selling it. The company said that as a result of rising raw material costs, it has started to raise prices across a range of product categories. While 70% of Croda's goods start with natural raw materials, the remaining 30% use petroleum-based ingredients, whose costs have increased. We have beginner's guide to playing V Rising here.
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