Alliance Boots recorded an 18% increase in revenue to 23bn in the year to March 2012. Trading profit increased 12.4% to 1.2bn. The strong performance was achieved through organic growth and acquisitions. The group expects profitable growth and international expansion to continue despite the difficult economic environment.

Private equity firm Endless has invested £10m in the acquisition of Cinesite from Kodak. Digital effects company Cinesites operates in a high-growth where there are significant opportunities. Endless is recapitalising the business in order to give film-makers the confidence to award it new contracts.

Coty has withdrawn its £6.7bn takeover bid for US-based Avon Products after Avon failed to meet its deadline to respond. Avon has recorded a substantial decline in sales and recently appointed chief executive Sheri McCoy will now make stabilising the business a priority.

US-based Avon Products is considering a 10.7bn dollar takeover bid from Coty after failing to respond to an earlier bid of 10bn dollars. The deadline to respond to the latest bid was 14 May 2012 but Avon is seeking additional time. Avon recorded weak first-quarter results, including a fall in profits and is planning a business review.