3rd Apr 2014 10:15
LONDON (Alliance News) - UK food wholesaler Booker Group PLC Thursday said it finished the financial year just ended on a strong footing, boosted by its acquisition of Makro last year, with profits for the year in line with expectations, and a balance sheet carrying GBP150 million of net cash.
Booker said group total sales including Makro, rose 16% in the 12-week fourth quarter ended March 28, while the all-important non-tobacco performance in the quarter reported growth of 25%. Booker said Makro was consolidated within its results from April 19, 2013.
Booker's like-for-like total sales, excluding Makro, were 1.9% higher in the quarter, with non-tobacco like-for-likes up 3.4%.
The food wholesaler retailer said total sales in the 52 weeks to March 28, including Makro, were up 17% on last year at GBP4.7 billion.
On a like-for-like basis, excluding Makro, it said that total sales for the 52 weeks period rose 2.1%. It said that like-for-like non-tobacco sales rose 4.4% in the same period, while like-for-like tobacco sales fell by 1.7%.
Booker said that like-for-like sales, including tobacco, to caterers rose by 7.1%, and fell by 0.5% to retailers.
The food wholesaler said it saw an improvement in customer satisfaction, with customer numbers, excluding Makro, increasing by 5% to 529,000 for the year, while online sales increased by 10% to GBP777 million.
Booker said that its cash and carry division, Booker Wholesale, had a good fourth quarter, with customer numbers up and sales in line with expectations.
The group said that non-tobacco sales at Makro were down 8% in the 12 week period, as it stopped selling some consumer ranges such as televisions. It said that cash and profits at Makro were in line with expectations.
"Booker Direct, Ritter, Classic and Chef Direct also had a good quarter. The Makro turnaround is progressing well. Makro customer satisfaction improved during the quarter," the firm said.
The group has been busy aligning the Booker and Makro businesses into a single unit.
"Our plans for bringing Booker and Makro together are on track," said Chief Executive Charles Wilson in a statement.
Wilson said that the group continues to improve its offering, prices and service to catering, retailing and small business customers in the UK.
The group said it held around GBP150 million in net cash at the end of the year, compared to GBP77 million a year earlier.
Booker shares were trading 0.5% lower Thursday morning at 161.60 pence per share.
By Rowena Harris-Doughty; [email protected]; @rharrisdoughty
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