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Trading statements

Booker like-for-like sales up

30 March 2017 07:29

Food wholesaler Booker Group has reported a good fourth quarter with non tobacco sales up by 4.5% with non tobacco like-for-likes up 4.7%.

Group tobacco sales declined by 7.9% with tobacco like-for-likes down 7.5%.

Booker said tobacco sales were being impacted by the tobacco display ban and new plain packaging restrictions.

Total sales were up 0.5% and like-for-likes were up 0.7%.

Booker said both the Catering and Retail sides of the business made good progress.

It said non tobacco sales in Premier continued to grow and Budgens and Londis were performing well.

Internet sales increased by 8% to £233m (excluding Budgens and Londis) and Booker India continued to make progress. For the 52 weeks to 24 March 2017, total sales were £5.3bn, up by 6.7% compared to last year.

Like-for-like non-tobacco sales increased by 2.8%, and like-for-like tobacco sales reduced by 4.6%.

Like-for-like sales to caterers rose by 4.4%. Like-for-like sales to retailers reduced by 0.6% primarily due to the tobacco display ban and plain packaging restrictions.

And the group said customer satisfaction scores were good. Booker Group had approximately £160m net cash at the end of the financial year. An update said: "On 27 January we announced the planned merger with Tesco and, as a result, we are in an offer period as defined in the Takeover Code.

"As set out in the announcement, we are currently going through the competition process.

"We will not be making forward looking statements for the duration of the offer period."

Story provided by StockMarketWire.com

Related Company: BOK

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