Booker Group had a “good” Q2, according to its trading update for the 12 weeks to September 8.
Group sales rose by 1.1% on the same period last year with non-tobacco sales up 5.8%. Like-for-like non-tobacco sales grew by 6.0%. Tobacco sales continued to be adversely impacted by changes in tobacco legislation, down 9.4% like-for-like.
Booker said its Premier fascia continued to grow, and that both Budgens and Londis were performing well.
Favourable working capital movements meant the wholesaler held a strong net cash position, with around £165m in the bank.
Because of its proposed merger with Tesco, Booker is in an offer period as defined in the Takeover Panel’s Code. Therefore, it will not be making forward-looking statements for the duration of the offer period.
Charles Wilson, Booker’s Chief Executive, said: “Booker Group continues to make good progress with like-for-like non-tobacco sales up 6.0%. Our plans to focus, drive and broaden Booker Group are on track. The competition review of the planned merger with Tesco plc is progressing. We continue to help our retail, catering and small business customers prosper through improving our choice, prices and service.”
Steve Fox, Managing Director, Booker Group – Retail, added: “We remain focussed on helping our customers to improve choice, price and service and our retail business continues to progress well. We had a good summer period and I’m looking forward to continuing to help our customers make more and save more in the run-up to Christmas.”
