Tim Danaher
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Alliance Boots sees rapid overseas wholesale growth

The company that owns the high street pharmacist Boots said it made just over £1bn pounds during the past 12 months.

Its pharmaceuticals wholesale division - which operates mainly in Europe - saw local currency revenues rise 26%.

The result helped the firm achieve overall revenue growth of 15%, despite like-for-like sales at its UK high street outlets rising only 1.2%.

Tim Danaher from Retail Week told the BBC said high street stores faces stiff competition from supermarkets.