October 11, 2018 / 11:10 AM / a month ago

Walgreens quarterly profit rises 88.5 pct

Oct 11 (Reuters) - Walgreens Boots Alliance Inc reported an 88.5 percent rise in quarterly profit on Thursday, as more people brought prescription medicines from its pharmacies and it benefited from its acquisition of Rite Aid stores.

Net income attributable to Walgreens rose to $1.51 billion, or $1.55 per share, in the fourth quarter ended Aug. 31, from $802 million, or 76 cents per share, a year earlier.

Revenue rose 10.9 percent to $33.44 billion.

The company agreed to buy 1,932 stores from Rite Aid for $4.38 billion last year. (Reporting by Aakash Jagadeesh Babu and Manas Mishra in Bengaluru; Editing by Anil D’Silva)

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