New accounting rules adopted
Boots Group has announced it will wipe£38.6 million off of its pre-tax profits as a result of adopting the International Financial Reporting Standard (IFRS). Pre-tax profits for the year to March 31 now stand at£453.6 million.

The retailer said the move would also affect pension costs, resulting in an increase of£35 million.

Under the new accounting rules, revenue for the year is unchanged at£5.4 billion.

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