11 Jan 2018 07:00
For Immediate Release 11 January 2018
Booker Group plc
Quarter Three Trading Update
For the 16 weeks to 29 December 2017
Booker Group, the UK's leading food wholesaler, had a good quarter. Group non tobacco sales rose by 5.9% with non tobacco like-for-likes up 6.2%. Group tobacco sales declined by 2.6% with tobacco like-for-likes down 2.1%. As a result, total sales were up 3.4% and like-for-likes were up 3.8%.
Booker Group 16 weeks to 29 December 2017 | |||
Total % | Tobacco % | Non Tobacco % | |
Total Sales | 3.4 | (2.6) | 5.9 |
Like-for-like Sales | 3.8 | (2.1) | 6.2 |
Both the Catering and Retail sides of Booker Group made good progress. Premier continues to grow and Budgens and Londis are performing well. We are proud to have commenced the supply to Shell and MRH forecourt businesses in December 2017. Internet sales increased by 14% to £381m (excluding Budgens and Londis) and Booker India continues to make progress.
On 27 January 2017 we announced the planned merger with Tesco plc. As a result of the proposed merger, we are in an offer period as defined in the Takeover Code and will not be making forward looking statements for the duration of the offer period. On 20 December 2017 the Competition and Markets Authority published its decision granting unconditional clearance of the merger. We anticipate that the shareholder vote to approve the merger will be towards the end of February 2018.
Charles Wilson, Chief Executive, said:
"Booker Group had another good quarter with like-for-like non tobacco sales up 6.2%. We continue to Focus, Drive and Broaden our business to improve choice, prices and service for our customers. The proposed merger with Tesco is progressing as planned. We are very grateful for the support we have received from customers, suppliers, shareholders and colleagues during this process."
Notes:
1. Sales are stated net of value added tax
2. Like-for-like sales is a measure of change in sales from UK operations from prior year to current year. No adjustments to sales are made when individual customers are gained or lost. If a Business Centre is closed, for the twelve months following the closure date the sales of the Business Centre are removed from the prior year comparative. If sales are transferred to a replacement Business Centre in the same vicinity no such adjustment is made. If a Business Centre is opened where none previously existed, all sales for the first twelve months will be excluded. Where a business is acquired, sales are excluded until the anniversary of the acquisition
3. 'Internet sales' are sales made to customers of the Group (excluding sales to customers of Budgens and Londis) where the order is taken via Booker.co.uk
ENDS
For further information contact:
Tulchan Communications (PR Adviser to Booker Group plc)
020 7353 4200
Susanna Voyle
Jess Reid