Booker interim profit jumps 10%, current trading ahead

Food wholesaler Booker posted a 10% rise in interim pre-tax profit as it said trading in the first four weeks of the current half is ahead of the same period last year.

For the 24 weeks ended 11 September, pre-tax profit rose to £74.1m from £67.4m in the same period last year, while total sales slipped 1% to £2.2bn, with like-for-like non-tobacco sales up 0.6% and tobacco sales down 3.7%. The company attributed the drop in tobacco sales to the government’s new ban on tobacco displays in small shops.

Booker lifted its interim dividend by 10% to 0.57p per share.

Chief executive Charles Wilson said: “This was a solid performance and our plan to focus, drive and broaden the business remains on track.

“Despite the challenges in the UK grocery market we continue to improve choice, prices and service for our retail and catering customers. We are delighted that Londis and Budgens have joined Booker and we look forward to growing with our customers."

The company said it completed the acquisition of Budgens and Londis on 14 September.

Booker said it anticipates that the challenging consumer and market environment will persist through the coming year, adding that the UK’s food market remains very competitive.