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BOK Booker just rising off the baseline of an uptrend channel with 40p minimum here on the cards and fairly quickish. Secondary indicators are also showing the stock ripe for a buy at the moment.



Fundies also support the Buy case all and every broker with a Buy reco on the stock and the company trades on a forard P/E of just over 12 to 2010 and beyond.

You cant get a much better SET UP than that on a stock both fundies and TA in cink with each other............ Nice.

Booker Group PLC

FORECASTS
2010 2011

Date Rec Pre-tax () EPS (p) DPS (p) Pre-tax () EPS (p) DPS (p)

Investec Securities
25-06-09 BUY 48.63 2.70 0.90 51.22 2.81 0.94

Singer Capital Markets Ltd
22-06-09 BUY 49.10 2.70 1.00 52.80 2.90 1.10

Evolution Securities Ltd
03-06-09 BUY 51.40 2.90 0.90 54.60 3.00 1.00

Shore Capital
22-05-09 BUY 46.00 2.60 0.90 51.00 2.80 0.90

2010 2011
Pre-tax () EPS (p) DPS (p) Pre-tax () EPS (p) DPS (p)

Consensus 48.86 2.70 0.90 51.72 2.84 1.00

1 Month Change 2.36 0.10 0.90 1.80 0.09 1.00
3 Month Change 4.06 0.22 0.02 2.76 0.14 0.04


GROWTH
2009 (A) 2010 (E) 2011 (E)

Norm. EPS 38.08% 3.19% 5.18%
DPS % 21.95% 11.11%

INVESTMENT RATIOS
2009 (A) 2010 (E) 2011 (E)

EBITDA 72.30m 74.86m 79.50m

EBIT 57.60m 61.29m 64.52m

Dividend Yield 2.11% 2.57% 2.86%

Dividend Cover 3.54x 3.00x 2.84x

PER 13.38x 12.96x 12.32x

PEG 0.35f 4.06f 2.38f

Net Asset Value PS -10.80p p p

Looking for 160p Nar ,then i'll have a small profit even though it's taken half my life to get there.

Out today 157.6p ,so with divi's a profit

Looking Good for the New Year 2015

Interim management Statement

Booker Group, the UK's leading food wholesaler, is pleased to announce its trading performance for the 16 weeks to 2 January 2015. Total sales in the 16 weeks, including Makro, rose by 1.4% on the same period last year. Booker like-for-like sales (excluding Makro) were 2.5% higher with non tobacco like-for-likes up 2.6%.

Booker Wholesale, our cash and carry division, had a good quarter. Customer numbers were up and sales were on track. Overall, Booker Direct, Chef Direct and Ritter performed in line with expectations.

The Makro turnaround is on track. Non tobacco sales were down 6.5% in the 16 weeks as we continued to exit non profitable, non professional categories. We have now converted 9 Makro outlets to the new, improved format.

Sales in India continued to make progress from our six branches.

The outlook for profits and net cash for the year remains in line with expectations.

Charles Wilson, Booker Chief Executive, said:

"This was a good quarter, with Booker Group continuing to make progress in a challenging market. Our non tobacco like-for-likes were up 2.6%. Our plans to Focus, Drive and Broaden remain on track. We continue to improve the choice, prices and service to catering, retailing and small business customers in the UK."


Note: Sales are stated net of value added tax

ENDS

Berenberg Buy 151.25 - 189.00 Resumes

Quarter Four Trading Update

Booker Group, the UK's leading food wholesaler, is pleased to announce its trading performance for the 12 weeks to 27 March 2015. Total sales in the 12 weeks, including Makro, rose by 1.0% on the same period last year. Booker like-for-like total sales (excluding Makro) were 1.7% higher with non tobacco like-for-likes up 2.3%.

Final Results

Financial Highlights
· Total sales £4.8bn, +1.5%
· Booker like-for-like sales (excluding Makro) +2.3%. Non tobacco sales (excluding Makro) +2.9% and tobacco sales +1.1%
· Operating profit £140.3m, +17% (pre prior year £3.4m net exceptional credit relating to Makro acquisition)
· Profit after tax (post exceptionals) £117.7m, +12%
· Basic earnings per share up 0.67 pence to 6.73 pence
· Net cash £147.0m (2014: £149.6m)
· Final dividend of 3.14p, taking the total dividend to 3.66 pence per share, an increase of 14%
· Proposed return of capital of 3.50 pence per share

Operational Highlights
· Our plan to Focus, Drive and Broaden Booker Group continues to make progress
· Customer satisfaction continued to improve
· Makro turnaround is on track
· Internet sales up 12% to £874m
· Booker Direct, Ritter Courivaud, Classic and Chef Direct continue to make good progress
· Premier our symbol group and Family Shopper our local discount format had a strong year
· Sales in India are on track
· We have refined the Group structure to improve choice, prices and service to all our customers

Return of Capital
In July 2012 Booker Group plc issued £124m of shareholder equity to acquire Makro in the UK. Following the successful integration of Makro into the Group and a period of strong cash generation, the Board implemented a capital return to shareholders of 3.50 pence per ordinary share (at a cost of approximately £61m) in July 2014. Given the continued successful development of the Group, the Board is proposing a second capital return to shareholders of 3.50 pence per ordinary share (at a cost of approximately £62m, based on the current issued share capital of the company). It is again proposed that this is achieved by the issue of a new class of "B" shares which shareholders will be able to redeem for cash. The return of capital requires the approval of shareholders, which will be sought at the Annual General Meeting on 8 July 2015. Further details of the proposed return of capital will be set out in a circular to shareholders which will accompany the notice convening this year's Annual General Meeting.

We currently anticipate returning a similar amount to shareholders in July 2016 and will provide an update on this at the 2016 Final Results announcement in May 2016 in light of circumstances prevailing at that time.

Outlook
The Group's trading in the first seven weeks of the current financial year is ahead of last year. However, we anticipate that the challenging consumer and market environment will persist through the coming year and the UK's food market remains very competitive.

Whilst there is increasing price competition in the UK grocery and discount sectors, we will continue to deliver our plans to offer our customers even better choice, prices and service supported by the continued delivery of our efficiency programmes. We are on track to deliver an outcome for the new financial year in line with our plans and to make progress in this challenging environment.

Charles Wilson, Chief Executive of Booker, said:

"This was a good year. Customer satisfaction continued to improve, which helped grow Group sales to £4.8bn. Our plans to Focus, Drive and Broaden the business remain on track. We look forward to helping our customers prosper in the years ahead."

Proposed Acquisition of Londis and Budgens

That takes BOK into the high street retail market, even though it will only be the corner shop niche. Not sure that is a very good idea at the moment.

Well the market likes it! :-)

Nice -

Corner shops would seem to be the new grounds for Supermarkets, because folks are not doing the Big-Shop rather buying less when needed, even though more expensive. Presumably they save overall. For Big-supermarkets they can mop-up from their falling sales Out-of-Town locations.
TSCO has been actively buying old pub-sites . . . not sure when/if these will mature and some may be sold-on....
If BOK wants to go "Corner-Shop" then they should manage a better margin, although very careful attention to distribution and "Local demands" - this will mean stock-control like never before . . . . but if BOK has the determination and "clarity" there is no reason it shouldn't fit-in somewhere under Waitrose Local and the non-corner Aldi/Lidl ( Although these two have small sites AND they often sell "Specials" every week - so they are telling their local-folks what they want . . . .by keeping stock Low, they rarely have any "Overs".
I don't hold BOK, yet......but might on a dip as they knock into shape - for smooth-running.

Investec Buy 166.75 178.00 185.00 Reiterates

Note from Morgan Stanley yesterday:
"Bottom line: Although largely expected (Booker had already announced its year-end net cash position), Booker has just released another solid statement with profits up +17% despite a worsening operating environment. But the ‘new news’ today, which we believe will be taken positively by the market, is a clear step towards balance sheet optimisation with (i) Booker announcing a further c.£60m cash return next year (on top of the £123m already announced) and (ii) Booker announcing the purchase of Musgrave’s symbol groups in the UK (£900m of sales).
Group: Booker’s full year EBIT reached £140m, in line with expectations (Booker had already released its net cash figure of £147m at its IMS on April 2nd). This corresponds to a margin accretion of close to 40bps (to 2.9%) compared to last year’s levels, which we see as a particularly robust performance given the prevailing deflationary environment. In our view, the main contributing factor to this increase has been the turnaround plan at Makro where management’s focus on cash generation has led to a drastic removal of unprofitable selling lines from Makro stores, but also to opex synergies. We however note that top line momentum at Makro has been a bit slow to kick in.
Cash generation: As expected and in line with the company’s guidance, Booker returned £62m of cash to shareholders (following a previous tranche of £61m distributed this time last year). But in addition, Booker has announced the (unexpected) intention to return a further £61m to shareholders in July 2016. Separately, DPS was reported at 3.7p, (vs. 3.2p in FY14), corresponding to a 54% payout ratio (broadly in line with FY14).
Londis/Budgens acquisition – balance sheet optimisation: This morning, Booker announced the acquisition of Musgrave’s Group symbol groups Londis and Budgens for £40m (subject to Competition Authority approval). Londis is a symbol retail chain of 1,630 convenience stores, with a £594m turnover to December 2014. Budgens is a franchised chain of grocery stores with 167 stores generating sales of £329 million in 2014. So in 2014, the combined assets generated sales of £833 million and made an operating loss before exceptional items of £7.4 million.
Outlook: In line with comments made at its Q4 IMS, Booker remains cautious in its outlook given the prevailing (and higher than last year) deflation in the food retail market and a very competitive market. In the release, Booker says that “trading in the first seven weeks is ahead of last year”.
Valuation: As of yesterday’s close price and on CY15 consensus numbers, Bookers trades on an EV/EBIT of 16.1x and a FCF yield of c.4.8%. This compares to a Pan-European sector average of 13.4x and 4.4% respectively."

AGM & Q1 Trading Update

StockMarketWire.com
Booker Group's total sales for the 10 weeks to the 28 August were down 2.0% due to ban on small stores displaying tobacco products.

Non-tobacco like-for-like sales were up 0.5% in the period.

The group has brought forward its September trading update following yesterday's decision by the Competition and Markets Authority to clear Booker's acquisition of Londis and Budgens in Great Britain.

The update says: "Booker Wholesale with Makro, our cash and carry division, had a good period. Customer satisfaction improved and profit performance was in line with expectations. Our delivered wholesale businesses Booker Direct, Chef Direct, Classic and Ritter also had a good period. Sales in India are continuing to make progress.

"Our balance sheet remains strong with a net cash position as at 28 August 2015 of approximately £110m." Booker Group remains on course to meet expectations for the year ending 25 March .

Chief executive Charles Wilson said: "Booker Group continues to make good progress. Our plan to Focus, Drive and Broaden Booker Group is on track. We continue to improve choice, price and service to become the best supplier to caterers, retailers and small businesses in the UK. We are pleased that the acquisition of Londis and Budgens has been cleared by the CMA. This will help strengthen our support for independent retailers throughout Great Britain."

Beaufort Securities Buy 178.40 - - Retains

JP Morgan Cazenove Overweight 178.40 174.00 200.00 Reiterates

StockMarketWire.com
Food wholesaler Booker Group posts pre-tax profits of £74.1m for the 24 weeks to 11 September - up 10% on last time.

Total sales fell by 1.0% to £2.2bn but like-for-like non tobacco sales were up 0.6% while tobacco sales were down 3.7%, Operating profit rose by 10% to £75.0m.4

Basic earnings per share rose by 9% to 3.45 pence and the interim dividend of 0.57 pence per share is up 10%.

Chief executive Charles Wilson, said: "This was a solid performance and our plan to Focus, Drive and Broaden the business remains on track. Despite the challenges in the UK grocery market we continue to improve choice, prices and service for our retail and catering customers. We are delighted that Londis and Budgens have joined Booker and we look forward to growing with our customers

Citigroup Neutral 168.60 214.00 170.00 Downgrades

Quarter Three Trading Update


Booker Group, the UK's leading food wholesaler, is pleased to announce its trading performance for the 16 weeks to 1 January 2016.




16 weeks to 1 January 2016

Group sales, including Budgens and Londis, rose by 10.5% on the same period last year. Booker Wholesale with Makro, our cash and carry division, had a good quarter for customer numbers, customer satisfaction and cash profit. Non tobacco sales reduced by 1.3% on a like-for-like basis. They were impacted by deflation in food prices and many customers reporting weak consumer demand during the period. Tobacco sales continued to be adversely impacted by the ban on small stores displaying tobacco products, down 6.9% like-for-like. Booker Direct, Chef Direct and Ritter performed as we expected. We made good progress on the integration of Londis and Budgens, which joined the Group on 14 September 2015. Sales in India continued to make progress from our six branches.

The outlook for profits and net cash remains in line with the guidance given at the Interim Results.