Sainsbury's basket fuller than expected

Underlying half-year profit before tax was ahead of expectations at Sainsbury as it continued to outperform in a challenging market.

Underlying half-year profit before tax was ahead of expectations at Sainsbury as it continued to outperform in a challenging market.

Underlying profit before tax in the 28 weeks to September 29th was up 5.4% to £373m from £354m the year before. Seymour Pierce had gone for £370m while Charles Stanley had plumped for £363m.

Total sales, including valued added tax (VAT) and fuel, were up 4.0% to £13,365m from £12,848m the year before, while excluding fuel they were 4.1% year-on-year.

Like-for-like sales growth in the reporting period, including VAT and excluding fuel, were up 1.7%.

The interim dividend has been hiked 6.7% to 4.8p from 4.5p the year before.

"Whilst the wider economic situation remains challenging, we are well positioned to help our customers Live Well For Less. Our long-standing consistent strategy, combined with our customer insight and strong value-driven culture, will continue to deliver for customers, colleagues and shareholders," said Justin King, Chief Executive of Sainsbury.

Recommended

The ten highest dividend yields in the FTSE 100
Income investing

The ten highest dividend yields in the FTSE 100

Rupert Hargreaves takes a look at the companies with the highest dividend yields in the UK’s blue-chip index
6 Feb 2023
The outlook for Shell shares is mixed, despite bumper profits
Energy stocks

The outlook for Shell shares is mixed, despite bumper profits

With profits surging, it looks as if Shell is on a roll, but the company’s growth from here is hard to see as Rupert Hargreaves explains.
6 Feb 2023
The top funds to invest in
Funds

The top funds to invest in

As market volatility and recessionary fears continue, here are the most popular funds, stocks and trusts investors are putting their money into accord…
2 Feb 2023
The top ten dividend stocks in the FTSE 250
Share tips

The top ten dividend stocks in the FTSE 250

The average FTSE 250 dividend yield is around 4%, but many stocks yield much more. Rupert Hargreaves picks the best FTSE 250 stocks for income investo…
17 Jan 2023

Most Popular

NS&I brings back one-year fixed bonds with highest rates since 2010
Personal finance

NS&I brings back one-year fixed bonds with highest rates since 2010

NS&I’s one-year fixed bonds are back on sale after being pulled off the market in 2019 - but is the rate any good?
1 Feb 2023
How to invest like an ISA millionaire
Investments

How to invest like an ISA millionaire

We reveal the top funds and trusts ISA millionaires pumped their money into
6 Feb 2023
The best one-year fixed savings accounts - February 2023
Savings

The best one-year fixed savings accounts - February 2023

Earn almost 5% on one-year fixed savings accounts.
6 Feb 2023