Economy

Sales rise at Booker Group amid Tesco takeover

Sales rise at Booker Group amid Tesco takeover”

The cash-and-carry group Booker said tobacco sales had fallen almost 10% in its second quarter.

Booker will announce its results for the first half ended September 8 on October 12. Stripping out tobacco, sales were up nearly 6% over the period. The group was boosted by Booker Group's non-tobacco products, with sales in this division up by 5.8 per cent. Tobacco sales fell 9.7 per cent for the period. The competition review of the planned merger with Tesco PLC is progressing.

In its initial findings, the watchdog highlighted the problems associated with Tesco-Booker acting as both a supermarket and supplier.

"Booker Group continues to make good progress with like-for-like non tobacco sales up 6.0%", said Booker's chief executive Charles Wilson.

As of 14:43 BST, Tesco's share price had added 0.33 percent to 182.25p, outperforming the broader United Kingdom market, with the benchmark FTSE 100 index having fallen deep into the red as the Bank of England signalled rate hikes going forward.

Shares in Booker were up 0.2% at 198.40 pence Thursday.

The CMA said that there are "concerns" that, following the merger, Booker may reduce the wholesale services and terms that it offers to symbol stores around the country, in order to push customers towards their local Tesco.



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