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Share Centre share of the week: Booker

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Helal Miah, investment research analyst at The Share Centre, picks Booker Group as share of the week.

“Britain’s biggest cash-and-carry wholesaler Booker has delivered some strong numbers against a tough trading environment, which has seen the major food and general retailers slide against the lower cost supermarkets. Furthermore, the company has delivered a robust performance since management took over and the Makro deal has provided a good growth opportunity for the group. We recommend Booker as a ‘buy’ as we believe the long-term fundamentals look sound and it offers investors seeking growth an opportunity in the Food and Drug sector.

“Booker has indicated that the first four weeks of trading in the second half are ahead of the same period last year. Additionally, in the first half it saw a 2.4 per cent rise in like-for-like sales, excluding Makro, and non-tobacco sales were also up 3.4 per cent. The Makro turnaround is on track so Booker remains confident that it will meet expectations for its full-year results. The dividend yield of 2.5 per cent is good and is likely be boosted in 2015 by a return of capital to shareholders.”

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