As Booker revealed its planned acquisition of Londis and Budgens, the company reported total sale for the year-ending 27th March or £4.8bn, +1.5%. Operating profit was up 17% to £140.3m.
Calling it simply, a “good year”, CEO Charles Wilson said that its plans to focus, drive and broaden the business remained on track. “The environment remains very competitive,” he said. “We’ve now got 3,082 Premier stores and sales are up 17% so I’m really pleased with how the business is look – Family Shopper is also trading well. Financially, we’re in great shape and we’re very grateful for our customers.”
The Group’s trading in the first seven weeks of the current financial year is ahead of last year. However, it anticipates 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, Booker said it would continue to deliver plans to offer our customers even better choice, prices and service supported by the continued delivery of its efficiency programmes.
Net cash was down to £147m from £149.6m, ahead of the Budgens and Londis acquisition.