Booker's profits soar as Tesco merger gets underway

By Laura Mullan
Booker has revealed positive financial figures for the first half of its financial year, with a 9% rise in operating profits. The UK wholesaler clocked...

Booker has revealed positive financial figures for the first half of its financial year, with a 9% rise in operating profits.

The UK wholesaler clocked up total sales of GBP£2.6bn in the six months up until the beginning of September, with profits hitting GBP£89.1mn.

Booker operates a number of convenience stores across the UK, including the likes of Budgens and Premier, while also supplying restaurants such as Asian food-chain Wagamama.

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In the report, the company also issued an update on its planned merger with Tesco, which was announced in January.

Currently under consideration by the Competition and Markets Authority, the merger is expected to be completed in the early part of 2018 subject to necessary shareholder approvals.

"Booker Group continues to make good progress with like-for-like non-tobacco sales up 7.7%. Our plans to Focus, Drive and Broaden Booker Group are on track," said CEO Charles Brooker.

"The competition review of the planned merger with Tesco is progressing face. We continue to help our retail, catering and small business customers prosper through improving our choice, prices and service."

 

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