October 12, 2017 / 6:23 AM / in 2 months

Tesco target Booker reports 9 pct first half profit rise​

LONDON, Oct 12 (Reuters) - Booker, the British wholesaler that has agreed to a 3.7 billion pound ($4.9 billion) takeover by Tesco, on Thursday reported a 9 percent rise in first half profit, driven by progress in both catering and retail.

The group said it made a pretax profit of 88 million pounds ($117 million) in the 24 weeks to Sept. 8, up from 81 million pounds in the same period last year, on total sales up 2.5 percent to 2.6 billion pounds.

It said non-tobacco revenue in the first four weeks of its new financial year is ahead of last year.

Booker said it expected the deal with Tesco, currently being reviewed by competition regulators, to complete in early 2018. ($1 = 0.7543 pounds) (Reporting by James Davey; editing by Jason Neely)

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