Financial Highlights (Makro not consolidated)
2012/13 was a 52 week reporting period, however 2011/12 was a 53 week reporting period. In order to make a comparison sales and profit are compared with the first 52 weeks of last year.
Total sales £4.0bn, +3.5%
Like-for-like sales +3.3%: non tobacco +4.5%, tobacco +1.3%
Operating profit (pre £3m exceptional charge related to Makro acquisition costs) +12% to £99.1m
Profit before tax +13% to £101.4m
Profit after tax +12% to £83.1m
Basic earnings per share up 0.16 pence to 4.93 pence, after equity dilution arising from the share element of the Makro consideration
Net cash of £77.2m (2012: £63.4m), after paying £15.8m in respect of the cash element of the Makro consideration
Proposed final dividend up 15% at 2.25 pence per share, making a total dividend for the year of 2.63 pence per share, up 15%
Operational Highlights
Customer satisfaction continued to improve and we increased sales by £135m
Sales to caterers +6.2% and sales to retailers +2.0%
Delivered sales up 9.5% to £1.15bn
Internet sales up 10.9% to £704m
Booker Direct, Ritter Courivaud and Classic are performing well and Chef Direct is becoming the new force in foodservice
Clearance from the Competition Commission was received on 19 April 2013. Makro and Booker are now coming together to improve choice, price and service for caterers, retailers and small business via the web, delivery and cash and carry
Our Indian business currently has four branches and continues to make progress with the opening of a further two in the year ahead
Outlook
The economy is expected to remain difficult in the year ahead and the food wholesale market remains very competitive. Nevertheless, we expect to continue to make progress in this challenging environment. The Group's trading in the first seven weeks of the current financial year is ahead of last year and we remain on course to meet our expectations for the year.
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 grew sales by over £135m. Most importantly we teamed up with Makro. Together Booker and Makro will become the UK's leading wholesaler to caterers, retailers and small businesses. We will 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."
