THE WHAT?  Superdrug, the leading high street pharmacy chain, has reported strong financial results for 2023, with sales rising by 11.8% to £1,528 million from £1,367 million in 2022. Market share also increased for the third consecutive year, reaching 10.6% compared to 8.9% in 2020.

THE DETAILS  The company’s pre-tax profit surged by 43% to £111.6 million, up from £77.8 million the previous year. This growth was driven by strong retail store performance, increased sales volume, and continued expansion of its Own Brand products. Superdrug opened 14 new stores in key locations and modernized 45 existing stores, enhancing the customer shopping experience.

THE WHY? Superdrug’s financial success is attributed to strategic investments in store expansion and modernization, a strong focus on competitive pricing, and continued innovation in product offerings.