British chemist group Boots reported a 10.4 per cent sales growth in Ireland compared with an overall group increase of only 1.9 per cent.
Despite the growth in sales the parent group reported a 10 per cent drop in its full-year profit but remained bullish about its prospects after a planned merger with Alliance Unichem this summer.
The 1,400-strong chain, which has some 50 stores in the Republic, reported group trading profit after finance costs of £401 million for the year to March 31st.
That was in line with market forecasts after detailed guidance from the company in March. The result is down 9.8 per cent from £444 million posted for the previous year.
The group result was dragged down by a 15.4 per cent slump in profits from the retail chain, which fell to £388 million following investment in neglected stores and IT systems.
Boots has also been investing in price cuts to fight off competition from grocers such as Tesco.
The retailer is aiming for its merger with drug distributor Alliance Unichem to be effective on July 31st. The deal will create a pan-European drugs retailer and distributor with 3,000 stores and more than £13 billion in sales.
The merger needs shareholder approval, which will be sought at a meeting around the end of June.