Booker sales going strong

Wholesale food business Booker says like-for-like sales in its fourth quarter rose while its expansion in India continues.

Total like-for-like sales in the 12 weeks to 23 March rose by 4.8% on the same period of 2011.

Total sales over the year were £3.9bn, up by 7.3%, and total like-for-likes were up by 6.1%.

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Internet sales increased by 21% to £635m, while the company opened its second office in Mumbai.

The 2011/2012 year has the impact of a 53rd week. Week 53 increased sales by £76m and will benefit operating profits by circa £1m for the full year.

Booker's net cash position was £63m at the year's end compared to £27m a year ago.

The company says profits for the 53 weeks to March 30th "remain in line with expectations."

Since the beginning of 2012 Booker shares have risen 14%.

BS