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%.
MoneyWeek
Subscribe to MoneyWeek today and get your first six magazine issues absolutely FREE
Sign up to Money Morning
Don't miss the latest investment and personal finances news, market analysis, plus money-saving tips with our free twice-daily newsletter
Don't miss the latest investment and personal finances news, market analysis, plus money-saving tips with our free twice-daily newsletter
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
-
Will UK inflation rise ahead of BoE meeting?August’s inflation report will be published at 7am on Wednesday, 17 September, one day before the Bank of England’s next rate-setting meeting
-
Thousands of savers with £250k pensions take cash over tax-free money and IHT fearsWith a record £70 billion withdrawn from pensions in the year to March, experts are concerned savers are making knee-jerk decisions without advice that could affect their long term wealth
