By Neil Trainis

A regional pharmacy chain in Gloucestershire has seen its turnover pass £22m, prompting its managing director to say he is confident it will increase its profitability and acquire more pharmacies despite squeezed pharmacy funding and a UK economy that has fallen into recession.

Peter Badham, the managing director of Badham Pharmacy whose Whaddon Road branch in Cheltenham [pictured] was highly commended in the Pharmacy Team of the Year category at this year’s Independent Pharmacy Awards at the House of Commons, was bullish in his assessment of the company’s prospects following its impressive latest financials.

Badham Pharmacy has 23 pharmacies, with branches in Bristol, Cheltenham, the Cotswolds, Gloucester, Bishops Cleeve, Churchdown, Forest of Dean and Tewkesbury.

“The impact from funding cuts to the NHS budget will provide a tough environment for pharmacies to operate in, however, the directors remain confident that they will be able to increase the profitability of the company through organic growth and acquisitions,” he told SoGlos, who reported that Badham Pharmacy grew its business during the Covid pandemic having had 19 pharmacies and turnover of £18m in 2019.

In its latest full accounts submitted to Companies House, Badham Pharmacy Ltd posted turnover of £22,740,399 and £8,449,119 in gross profit to the year ending March 2022.