Booker upbeat despite questions over Tesco deal

Cash-and-carry group Booker put up the “business as usual” sign today as it shrugged off ongoing uncertainty over its Tesco takeover.

The fate of the £3.7 billion deal is currently in the hands of the Competition and Markets Authority, with provisional findings due later this month. Booker said it expects the merger will complete in early 2018.

In the meantime, chief executive Charles Wilson said that the business continues to make good progress, with like-for-like sales excluding tobacco up 7.7% in the 24 weeks to September 8. Group profits were 9% higher at £88 million.

Wilson said: “If you speak to our customers, they would say Booker has done a good job over the summer. It’s been business as usual.”

Tobacco sales were down 9% after changes in legislation, including a ban on the sale of packets of less than 20 cigarettes and the introduction of plain packaging. The display of product pricing has also been outlawed.