Profits up for Sainsbury as price war continues
J Sainsbury, the owner of Britain's number three supermarket chain, has seen profits before tax rise to £354m in the first six months of this year, a 6.6% improvement on the same point last year and a touch above analysts expectations of around £350m.
J Sainsbury, the owner of Britain's number three supermarket chain, has seen profits before tax rise to £354m in the first six months of this year, a 6.6% improvement on the same point last year and a touch above analysts expectations of around £350m.
The total sales figure was also strong, at £12,848m for the half year, significantly better than Charles Stanley's prediction of £11,750m
Like-for-like sales, which strips out new stores openings, were up 1.9% and the interim dividend was increased to 4.5p per share (up from 4.3p)
MoneyWeek
Subscribe to MoneyWeek today and get your first six magazine issues absolutely FREE

Sign up to Money Morning
Don't miss the latest investment and personal finances news, market analysis, plus money-saving tips with our free twice-daily newsletter
Don't miss the latest investment and personal finances news, market analysis, plus money-saving tips with our free twice-daily newsletter
These numbers are likely to see upside pressure on the stock come market opening although there are other issues facing the firm.
A key part of the Sainsbury strategy is to grow its estate to provide more space from which to extract earnings. In the first six months of this year it bought 596,000 square feet of new space and has seen the total value of its properties rise by £400m.
So far, so good, although analysts will be doing the sums on Sainsbury's margins as it goes toe-to-toe with Tesco via its price matching strategy.
Justin King, the Chief Executive of J Sainsbury said of today's results: "We have also made good progress in the development of our store estate. We have added a gross 596,000 sq ft of new space, with seven new stores (including two replacements), 15 extensions and 37 convenience stores, creating over 2,700 new jobs in the process."
He warned however that Sainsbury expects the economic climate "to remain challenging for the foreseeable future."
BS
Get the latest financial news, insights and expert analysis from our award-winning MoneyWeek team, to help you understand what really matters when it comes to your finances.
MoneyWeek is written by a team of experienced and award-winning journalists, plus expert columnists. As well as daily digital news and features, MoneyWeek also publishes a weekly magazine, covering investing and personal finance. From share tips, pensions, gold to practical investment tips - we provide a round-up to help you make money and keep it.
-
Michelin Key Hotels 2025: the top destinations in the world
The Michelin Keys have been awarded to spectacular hotels across the world. From Marlon Brando's private resort in Polynesia to a Bvlgari hotel in Tokyo, we look at some of the most extraordinary stays in 2025
-
MoneyWeek news quiz: How much could you get in car finance compensation?
The car finance scandal, inheritance tax, and house prices all made headlines over the past few days. Test your knowledge while reviewing this week’s top stories with MoneyWeek’s news quiz