Q4 Trading Update

For Immediate Release

30 March 2017

Booker Group plc

Quarter Four Trading Update

For the 12 weeks to 24 March 2017

Booker Group, the UK's leading food wholesaler, had a good quarter. Group non tobacco sales rose by 4.5% with non tobacco like-for-likes up 4.7%. Group tobacco sales declined by 7.9% with tobacco like-for-likes down 7.5%. Tobacco sales are being impacted by the tobacco display ban and new plain packaging restrictions coming into force. Total sales were up 0.5% and like-for-likes were up 0.7%.

Both the Catering and Retail sides of Booker Group made good progress. Non tobacco sales in Premier continue to grow and Budgens and Londis are performing well. Internet sales increased by 8% to £233m (excluding Budgens and Londis) and Booker India continues to make progress.

For the 52 weeks to 24 March 2017, total sales were £5.3bn, up by 6.7% compared to last year. Like-for-like non-tobacco sales increased by 2.8%, and like-for-like tobacco sales reduced by 4.6%. Like-for-like sales to caterers rose by 4.4%. Like-for-like sales to retailers reduced by 0.6% primarily due to the tobacco display ban and plain packaging restrictions. Customer satisfaction scores were good.

Booker Group had approximately £160m net cash at the end of the financial year.

On 27 January we announced the planned merger with Tesco and, as a result, we are in an offer period as defined in the Takeover Code. As set out in the announcement, we are currently going through the competition process. We will not be making forward looking statements for the duration of the offer period.

Our Preliminary results will be announced on 18 May 2017.

Charles Wilson, Chief Executive, said:

"Overall, 2016/17 was a good year. Customer satisfaction was good and sales were the best we have ever achieved. Booker Group remains on track to Focus, Drive and Broaden the business. On 27 January we announced the planned merger with Tesco. We are excited about the benefits the enlarged Group will bring to consumers, our customers, suppliers, colleagues and shareholders. The merger is going through the competition process. Meanwhile it is business as usual as we continue to improve choice, prices and service for our retail, catering and small business customers."

Note:

1. Sales are stated net of value added tax

2. The timing of the New Year relative to the comparable financial period last year flattered non tobacco sales in Q3 by circa 0.5% and had a corresponding adverse impact in Q4

ENDS

For further information contact:

Tulchan Communications (PR Adviser to Booker Group plc)

020 7353 4200

Susanna Voyle