Booker says Tesco merger still on track

Wholesaler Booker has reported a 9% rise in profits and confirmed that its £3.7 billion merger with Tesco is still set to close by early next year, despite an ongoing competition probe into the deal.

The group released interim results showing pre-tax profits jumped just shy of double digits to £88 million in the 24 weeks to September 8, though total sales grew only 2.5% to £2.6bn.

The company also cheered “good progress” in its catering and retail operations, which saw like-for-like sales rise 8.1% and 0.6%, respectively.

Booker added it was still confident it would close a multibillion-pound merger deal with Tesco by early next year.