Booker Group Posts Positive Full-Year Results
Booker Group, the UK's largest food wholesaler, has recorded positive full-year results, despite what it describes as 'increasing price competition' in the sector.
The group, which purchased the Londis and Budgens grocery chains from Musgrave Group last year, saw its total sales increase by 5%, while profit after tax increased by 9% to £127.8 million.
Non-tobacco sales increased by 6.3%, however like-for-like sales were down by 1.9%. Internet sales excluding Budgens and Londis were up 12% to £979 million for the full year ending 25 March 2016.
"Whilst there is increasing price competition in the UK grocery and discount sectors, we will continue to deliver our plans to offer our customers even better choice, prices and service supported by the continued delivery of our efficiency programmes," the company said in a statement.
"We are on track to deliver an outcome for the new financial year in line with our plans and to make progress in this challenging environment."
Booker chief executive Charles Wilson added that the group's plan to "focus, drive and broaden" the business remains on track. "We made good progress on the integration of Budgens and Londis. We are very grateful for the support of our customers, suppliers and people and look forward to making progress in the year ahead."
The wholesaler also noted that trading in its first seven weeks of the current financial year was ahead of 2015.
© 2016 European Supermarket Magazine – your source for the latest retail news. Article by John Golden. To subscribe to ESM: The European Supermarket Magazine, click here.