Alliance Boots Reports Higher Profits Despite Lower Revenue For Year Ending March 31, 2013

Alliance Boots reported profit after tax rose 12.7 percent for the year ending March 31, 2013. Revenue declined 2.6 percent to £22.4 billion, while trading profit increased 6.1 percent to £1.265 billion. Cash generated from operations reached £1.648 billion. Alliance Boots said it spent £200 million on capital expenditure, mainly on retail stores, information technology and logistics. Acquisition-related expenditure reached £84 million. Net borrowings by end of the year reached £5.893 billion, £1.124 billion lower year over year.