Cheap cheerful at Booker

Booker, the cash and carry chain, saw half-year, pre-tax profit soar 12.1% to £29.7 million as the catering industry went shopping for the cheapest food and booze.

Chief executive Charles Wilson today claimed Booker has become the UK's fastest-growing catering supply business as its free delivery and internet shopping enticed firms "looking for the best value".

He said: "It's still a tough market for the restaurants, pubs and fast food outlets that we serve, but our prices, choice and improved customer service are bringing in more caterers from our rivals."

Booker's like-for-like sales in the six months to September rose 7.7% to £1.6 billion, compared with 1.1% a year ago.

Last month Booker opened its first overseas branch, in Mumbai, India, on the advice of UK customers.

Wilson explained: "In the UK we serve 3000 Indian restaurants, and have a lot of Indian customers who own corner shops. They said they thought Booker would do well out in India, so we sent out a fact-finding team, and they agreed. It's early days, but the Mumbai branch looks to be going well so far."

Booker is sharing the spoils with shareholders, hiking its interim dividend by a fifth to 0.24p.

Wilson, who left a position as Sir Stuart Rose's number two at Marks & Spencer to join Booker in 2005, said he is "100% committed" to the cash and carry group.