No7 products lift Alliance Boots

Boots saw strong sales of its Protect & Perfect beauty products

The chemist chain Alliance Boots has reported a pre-tax profit of £13m for the year to 31 March, with its UK sales boosted by its No7 cosmetics range.

The company made a loss of £64m on the same measure a year earlier.

The firm has been hit by huge finance costs relating to its debt-laden £11bn buy-out by the private equity firm Kohlberg Kravis Roberts (KKR) in 2007.

Revenues increased 45% to £17.2bn. Like-for-like sales at its Boots health and beauty stores in the UK rose 1.3%.

"Alliance Boots has continued to perform well," said executive chairman Stefano Pessina.

"As a result we remain confident about our prospects for the year ahead."

No7 remained the UK's market leader with strong demand for its anti-ageing skincare products, the company said.

It added that it had launched a number of new No7 products throughout the year.

Alliance Boots was formed in 2006 through the merger of Boots and Alliance Unichem. It was taken private by KKR the following year.