This growth trajectory follows the acquisition of five Lloyds pharmacies across Scotland, enhancing its presence to over 50 outlets. Managing director Allan Gordon, while reflecting on the recent expansion, hints at potential further acquisitions from Lloyds, especially given the re-emergence of 20 Lloyds locations in the market.

In the latest financial overview, Walter Davidson & Sons Limited reported a significant turnover increase to over £60m for the year ending January 2023, up by £7m from the previous year. Despite this, pre-tax profits experienced a dip to £3.1m from £4.9m, attributed to the cyclical nature of community pharmacy funding.

The company, now employing 600 staff members, faced a substantial rise in its wage bill to over £11m, up from £9.1m, acknowledging wage inflation as a persistent challenge. Energy costs, though fixed last year, have currently doubled, adding an additional £500,000 burden, which the firm is prepared to absorb without any pharmacy closures.

Innovation also remains a key focus, with the firm investing in new prescription lockers costing approximately £40,000 each, to facilitate efficient medication collection without the need to queue, a feature that has reportedly attracted considerable customer interest.