Booker Group, an internet-enabled grocery wholesaler, reported a positive second quarter with total sales up by 15.2% compared to a year ago. Furthermore, the company also updated the market on a better than expected 0.9% rise in non-tobacco like-for-like sales.

The company gave a strong indication that its growth opportunities look attractive by stating that it remains on course to meet full year expectations. Furthermore, the company’s expansion into India continues to progress well, following te opening of its sixth branch in the region.

Investors will be interested by the hikes in the dividend over recent reporting periods as well as the report that internet sales continue to rise. We therefore continue to recommend Booker as a ‘Buy’ as the long-term fundamentals look sound and the benefits of recent acquisitions of Budgens and Londis convenience store chains begin to bear fruit.