Booker Q1 sales up on late Easter, favourable weather
Food wholesaler Booker reported growth in like-for-like sales in the first quarter thanks to the late Easter and favourable weather.
Booker Group
224.00p
16:40 02/03/18
Food & Drug Retailers
3,956.27
16:59 26/04/24
FTSE 250
19,824.16
16:59 26/04/24
FTSE 350
4,470.09
16:59 26/04/24
FTSE All-Share
4,423.59
17:14 26/04/24
In a trading update for the 12 weeks to 16 June, it said sales rose by 4% on the same period last year, with like-for-like sales up 4.2%. Non-tobacco sales grew by 9.6% on a LFL basis, while tobacco sales continued to be hit by changes in tobacco legislation, down 7.0% LFL.
The company, which announced a planned merger with Tesco back in January, said its balance sheet remains strong with a net cash position.
Chief executive Charles Wilson said: "This was a good quarter. Our plans to focus, drive and broaden the group are on track. On 27 January we announced the planned merger with Tesco and we are going through the competition process. Meanwhile business as usual is going well as we continue to improve choice, prices and service for our retail, catering and small business customers."
As it is currently in an offer period as defined in the Takeover Code, Booker said it wasn't making any forward-looking statements.