£61m payout for Booker shareholders

CASH and Carry group Booker is planning to return £61m to shareholders following the successful integration of Salford-based Makro.

Revenues for the year to the end of March were up 17.3% to £4.7bn after taking into account the £140m deal that was approved by competition regulators in April 2013.

After stripping out the acquisition, like-for-like revenues were 2.1% higher. Overall pre-tax profits were up 33% to £122.1m.

Booker said it would return 3.5p/share in recognition of the successful integration of the businesses and a period of strong cash generation,

Makro sales were down 9% due to some discontinued lines but it made a profit of £11m, up from an £18m loss in 2012.

Chief executive Charles Wilson said: “Most importantly we teamed up with Makro to become the UK’s leading wholesaler to caterers, retailers and small businesses. We strive to 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.”