Booker third quarter sales up 10.5%, guidance reiterated

Food wholesaler Booker Group posted a rise in third quarter sales as it said the outlook for profits and net cash remains in line with guidance given at the interim results.

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For the 16 weeks to 1 January, total sales including Budgens and Londis rose 10.5%, while tobacco sales were up 7.4% and non-tobacco grew 11.9%.

Like-for-like sales including Makro were down 3.1%, however, with tobacco 6.9% weaker and non-tobacco down 1.3%. The group said LFL sales were hurt by deflation in food prices and many customers reporting weak consumer demand during the period.

Tobacco sales, meanwhile, continued to be hit by the ban on small stores displaying tobacco products.

Booker said good progress was made on the integration of Londis and Budgens, which joined the group in September.

Chief executive Charles Wilson said: “Booker Group continued to make progress in a challenging market.

“Our plans to Focus, Drive and Broaden remain on track. Budgens and Londis are settling into the group well as we continue to improve choice, prices and service for all our customers."

At 0840 GMT, Booker shares were down 2.8% to 162p.