6th Jul 2016 06:45
LONDON (Alliance News) - Convenience store operator and wholesale retailer Booker Group PLC on Wednesday reported growth in sales in the first quarter of its financial year and said it is on track for the full year.
Booker, which owns wholesaler Makro as well as convenience chains Budgens and Londis, said group sales in the 12 weeks ended June 17 rose by 10% year-on-year, with tobacco sales up 6.4% and non-tobacco up 12%.
On a like-for-like basis, however, which excludes Budgens and Londis as they only joined the company last year, group sales fell by 2.9% as tobacco sales were down 7.7% and non-tobacco slipped 0.7%.
Booker said this was due to deflation in food prices, weak consumer demand and the ban on small stores displaying tobacco products.
Booker said it remains on course to meet expectations for the year ending March 24, 2017.
"Booker Group continues to make good progress. Our plans to Focus, Drive and Broaden Booker Group are on track. Budgens and Londis joined the group last September and are making a solid contribution. We continue to enhance choice, price and service for our retail, catering and small business customers and look forward to growing with them in the year ahead," Chief Executive Charles Wilson said in a statement.
By Karolina Kaminska; [email protected] @KarolinaAllNews
Copyright 2016 Alliance News Limited. All Rights Reserved.