2nd Apr 2015 06:42
LONDON (Alliance News) - FTSE 250-listed food wholesaler Booker Group PLC Thursday said Chairman Richard Rose is to step down from his role, as its sales ticked higher in both the fourth quarter and the whole of its last financial year.
Booker said Rose will step down following the company's annual general meeting on July 8 after three years at the helm. Rose is also the chairman of FTSE 250-listed electrical appliances retailer AO World PLC and is the chairman of AIM-listed insurance outsourcing and technology company Quindell PLC.
Booker said the process of identifying a new chairman to replace Rose has started.
In a separate statement on Thursday, Booker said its total group sales, including the Makro business, increased 1% in the 12 weeks to March 27, the company's fiscal fourth quarter. Booker said group tobacco sales rose 1.2% and non-tobacco sales were up 0.9%.
Excluding Makro, Booker's like-for-like sales rose by 1.7% in the quarter, with tobacco growing 0.6% and non-tobacco sales up 2.3%.
For the 52 weeks to March 27, total sales for the company, including Makro, were GBP4.75 billion, up 1.5% year-on-year. Like-for-like total sales, excluding Makro, rose 2.3% in the year, the company said.
Booker said its Booker Wholesale cash-and-carry division had a good fourth quarter, with solid sales figure and good customer volumes. The Booker Direct, Ritter Courivaud, Classic Drinks and Chef Direct businesses also performed well in the quarter.
Booker said the turnaround at Makro is progressing well, though tobacco sales fell 7.4% in the fourth quarter, as expected, after the company stopped selling certain brands. Cash and profit in the Makro business was in line with expectations, Booker said. It added sales in its Indian business are progressing well.
"This was a good end to a good year. We achieved strong customer satisfaction scores, and sales and profits were the best we have ever achieved. The integration of Makro into the group has gone smoothly which has allowed us to improve choice, prices and service to our catering and retail customers," said Charles Wilson, Booker's chief executive.
By Sam Unsted; [email protected]; @SamUAtAlliance
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