More gloom likely at U.K. drugstore chain Boots.

Byline: Jessica Hodgson

Oct. 24--High-street chemist Boots is this week expected to reveal a 20 percent drop in first-half profits as the costs of its restructuring begin to bite. Hit by sluggish sales growth of 3.8 percent and margin pressures in its core business, the UK chain is expected to announce first-half profits of 205 million pounds (295 million euros, $369 million) -- down 60 million pounds on last year.

The stores' substantial investment programme, announced earlier this year by chief executive Richard Baker, will also have hit profits. Boots off