Alliance Boots Plc, a European pharmacy and beauty products company, announced today that it's trading profit for the year ended on March 31 crossed £1 billion.

This was the first time in the history of the company when trading profit was reported over £1 billion in a fiscal. Alliance Boots said that the excellent results for the full year were mainly attributable to the strong performance by its wholesale operations. However, Alliance also said that it had currently no plans for a stock market listing.

Alliance said that the trading profit for the year ended on March 31 was of £1.07 billion, increasing by 12.7% while it was reported to be £949 million in the previous corresponding period. This was the third year in a row when Alliance reported a double digit trading profit growth. Alliance became the third UK retailer to post trading profits of more than £1 billion.

Tesco and Marks & Spencer were the two other to cross this mark earlier. Alliance said that both of its business divisions, pharmaceutical and health and beauty products, posted an excellent result for the year. Trading profit at its wholesale pharmaceutical division grew by 17% in the year ended on March 31.