Booker, the food and drink wholesaler, has reported a 2.1% rise in like-for-like sales (excluding its Makro business) in the year to 28 March as it saw profits before tax and exceptionals rise 25% to £118.7m following its acquisition of Makro.
Total sales grew 17.3% to £4.7bn. The like-for-like sales growth was +4.4% for non-tobacoo and -1.7% for tobacco. Operating profit before a £3.4m net exceptional credit related to the Makro acquisition grew 23% to £120.4m.
Booker said the turnaround of Makro, which it acquired in July 2012, is “on track”, having delivered £26m of synergies.
The company said its Booker Direct, Ritter Courivaud, Classic and Chef Direct arms “continue to make good progress”. It now has six branches in India, having opened two branches in the year.
Internet sales were up 10% to £777m in the period.
Booker said trading in the first seven weeks of the current financial year is ahead of last year. “We anticipate that the challenging consumer and market environment will persist through the coming year and the UK’s food market remains very competitive.”
“Whilst there is increasing price competition in the UK grocery and discount sectors, we will continue to deliver our plans to offer our customers even better choice, prices and service supported by the continued delivery of the Makro synergy plans and our efficiency programmes. We are on track to deliver an outcome for the new financial year in line with our plans and to make progress in this challenging environment.”
Charles Wilson, chief executive of Booker, said: “Our plan to Focus, Drive and Broaden the business remains on track.
“Customer satisfaction continued to improve and we achieved our best satisfaction ever. We grew the Group to £4.7bn of sales. Most importantly we teamed up with Makro to become the UK’s leading wholesaler to caterers, retailers and small businesses. We strive to provide our customers with improved choice, prices and service via the internet, delivery and cash and carry. We have a great team at Booker and Makro and together we will help our customers prosper in the year ahead.”
