UK cash-and-carry retailer Booker today (28 May) posted rising annual profits as the company’s moves to broaden its business paid dividends.
The group, which last month announced plans to expand into India, saw pre-tax profits jump 30% to GBP47.2m (US$75.3m) in the year to 27 March.
Operating profit climbed 25% to GBP57.8m, while Booker said its basic earnings per share rose 29% to 2.63p.
Booker said its Internet sales had more than doubled to GBP250m, helping group revenue rise by 3.3% to GBP3.2bn. Like-for-like sales to retailers inched up 1%.
Chief executive Charles Wilson said: “Our plan to focus, drive and broaden the business is working and we are satisfied with the progress we have made.
“The economy is expected to remain difficult in the year ahead and the food wholesale market remains very competitive. We expect to continue to make progress in this challenging environment.”
Booker’s first store in India will open in Mumbai later this year with a focus on fresh fruit and vegetables.
The company, meanwhile, also today outlined plans to quit London’s AIM exchange and move to the London Stock Exchange’s main market.