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Its makes a nice change to hear positive comments from a company. I'm a long term holder of this stock and still see lots of good to come.
Charles Wilson, Booker Chief Executive, said: "Amid a challenging economy Booker has continued to improve the choice, prices and service we provide to customers. Customers have rewarded us with an increased share of their spend and the number of customers has increased. Our plans to drive and broaden Booker are on track."
Quarter Two Trading Update and Notification of Interim Results Announcement Total sales in the 12 weeks to 9 September 2011 rose by 7.6% on the same period last year. Non-tobacco sales were 7.6% higher, while tobacco sales rose by 7.6%. On a like-for-like basis total sales rose by 5.6%, non-tobacco sales by 4.5% and tobacco sales by 7.6%. Fresh departments performed particularly well with fruit and vegetable sales up 34%. Total sales in the 24 weeks to 9 September 2011 rose by 8.5% on the same period last year. Non-tobacco sales were 8.3% higher, while tobacco sales rose by 8.9%. On a like-for-like basis total sales rose by 6.5%, non-tobacco sales by 5.1% and tobacco sales by 8.8%. Classic and Ritter Courivaud, the two businesses we acquired in October 2010 are performing well. In India our Mumbai branch is trading well, we will open in Pune, India, next week and expect to have our second branch in Mumbai open in December. As at 9 September 2011 net cash was £58m versus net cash of £10m a year ago. Having had a good first half the outlook for the year as a whole remains unchanged.
http://www.investegate.co.uk/Article.aspx?id=201109150700182622O
The recent trading update from US cash and carry operator Booker for the quarter to June demonstrated its resilience against a difficult economic backdrop, according to the Scotsman. Like-for-like sales increased by more than 7 per cent during the period versus the prior year, a level of growth significantly ahead of the UK supermarkets. While a number of one-off factors boosted sales, Booker continues to grow its market share within the sector. The company has sufficient firepower to make acquisitions, although we believe it is unlikely that anything significant will be announced this year. We believe the stock is undervalued, according to the Scotsman, which recommends a buy.
Very encouraging on Friday, the market was well down but BOK was up.
Current price gives a market cap of 1.4 billion, I read somewhere that 900 Million was based on 15 times earnings (as a valuation), so can't help but agree with what I read recently (stating that Booker was over priced). So I am happy to see the price stablize and come down now. Longer term I do certainly agree with your assesment, that this share is going to rise a great deal, I certainly hope so I have been buying in recently. :D I think Booker is in safe hands with Charlie Wilson, very highly rated.
Seems to be a lot of narrow minded profit taking this morning. This share has a value of £2..
Strange there was no progress update on India, but with sales up 9%, who is complaining. Fortuantely I changed my mind, and took another bite on tuesday before close, while it was below 70p/share.
Just steady growth every year up 135% even 35% over 6 months Today up 8%
Charles Wilson, Chief Executive said: "Booker continues to make good progress with like-for-like non-tobacco sales up 5.7% in quarter one. We are helping 459,000 independent businesses compete by improving choice, having competitive prices and enhancing service in this challenging economic environment."
Annual General Meeting and Quarter One Interim Management Statement For the 12 weeks to 17 June 2011 Booker is holding its Annual General Meeting at 11am today. At the meeting, Chief Executive, Charles Wilson will read out the following Interim Management Statement: "Total sales in the 12 weeks to 17 June 2011 rose by 9.5% on the same period last year (7.4% on a like-for-like basis). Non-tobacco sales rose by 9.1% (5.7% on a like-for-like basis) while tobacco sales grew by 10.1% (10.1% on a like-for-like basis). The first 12 weeks included the impact of Easter phasing, an extra bank holiday, favourable weather and a large increase in tobacco duty. After a good start we anticipate that Booker is on course to meet expectations for the year ending 30 March 2012."
http://www.investegate.co.uk/Article.aspx?id=201107060700058175J
Have read that Booker are overpriced, but a great time to get on board I would say ahead of Wednesdays trading update. I imagine the news on the India stores will be positive, and show great potential. Fingers and everything else crossed for the opposite though, as I want to load up on these, and a weakness will send this down to more realistic levels.
Pretty happy to see this share holding station around 70p, looked like a great buy at 50-60p, but at a price which is around 15 times earnings, rapid share increase, will mean a rapid fall at some point. Pesonally I'd love to see this come down a little, so I can purchase some more. Definitely a good one for the future imo.
UBS reiterated buy on Booker Group, target price raised to 75p from 67p.
http://www.investegate.co.uk/Article.aspx?id=201105190700088655G
Evolution Securities issued a "buy" rating for Booker Group (BOK) with a 80p target price. Following full-year results, the broker said the cash and carry operator offers outstanding long term growth given the strategic and competitive advantages over most of its competition and very healthy cash generation. Evolution added that the business is not widely covered or understood but, nevertheless, believes it will become a FTSE100 company. Shares in Booker, which last October acquired Ritter-Courivaud and Classic Drinks, gained 2.55p to 70.25p.
Another very good set of results with a large increase in profits. The sp has raced up to 70p this week, is it time to take some profits or is there still more to come.
Evolution Securities issued a "buy" rating for Booker Group (BOK), the cash and carry operator, with a 70p target price. The broker notes that the group has a premium valuation but, nevertheless, feels this is more than justified given the strong earnings per share growth, consistent delivery of strong results and attractive strategy. Ahead of full year results on Friday, Evolution said it expects to see a good set of numbers and believes the shares have further to go as the market reassesses the strength of the business model. Shares in Booker, which supplies approximately 296,000 catering businesses and over 72,000 independent retailers, pushed back 1.25p to 64.85p.
Ticking along nicely, much less stressful than the oilies!
Singer Capital Markets maintained its "fair value" rating for Booker (BOK), the cash and carry operator, with an increased target price of 53p, up from 50p. The broker notes, unlike other consumer facing businesses, trading at the group continues to meet or beat expectations, and believes good strategic execution will generate further share gains and efficiencies in the future. Synergies from recent acquisitions should also start to contribute to growth in the next 12-18 months, Singer added. Booker shares edged higher 0.35p to 60.55p.
Yet another good update from BOK. I hope Evolution's prediction of an SP of 70p comes good.
Charles Wilson, Booker Chief Executive, said: "Booker continues to make good progress. In the last year customer satisfaction improved further, we served 28,000 more customers and increased turnover by more than £200m. Our plans to "Broaden" the business remain on track. Booker Direct is doing well, with Ritter-Courivaud and Classic fitting nicely into the Group. Online sales have continued to grow strongly and India is encouraging. The UK economy is expected to remain challenging for the next year but we are committed to helping our customers prosper amid the economic uncertainties."
Quarter Four Trading Update In the 12 weeks to 25 March 2011 total sales rose by 6.4% on the same period last year, with total like-for-likes up by 4.4%. Non-tobacco like-for-likes rose by 5.2%, while like-for-like tobacco sales increased by 3.1%. Fresh departments did particularly well with fruit and vegetables up 52%. Total sales in the 52 weeks to 25 March 2011 were £3.6bn, up by 6.2%, and total like-for-likes were up by 5.1%. Like-for-like non-tobacco sales rose by 5.3%, while like-for-like tobacco sales increased by 4.9%. Like-for-like sales to caterers rose by 6.3% and retailers by 4.6%. Customer numbers increased to approximately 459,000 and customer satisfaction improved further. Internet sales increased by 29% to £526m. Booker Direct is doing well and Ritter-Courivaud and Classic, the two acquisitions we announced in October 2010, performed in line with expectations. Trading in India continues to be encouraging and we are in the process of opening our second branch in Mumbai and our first joint venture branch. The Group had around £27m net cash at the end of the year, compared to £7m a year ago. Profits for the 52 weeks to 25 March 2011 remain in line with management expectations.