19 million weekly customer transactions help Sainsburys to good results
Preliminary Results for the 52 weeks to 20 March 2010 show good sales and profit performance
Total sales (inc VAT, inc fuel) were up 5.1 per cent to £21,421 million (2008/09: £20,383 million) with total sales (inc VAT, ex fuel) up 6.7 per cent.
Like-for-like sales (inc VAT, ex fuel) were up 4.3 per cent and underlying operating profit up 8.9 per cent to £671 million (2008/09: £616 million)
Profit before tax was up 57.3 per cent to £733 million (2008/09: £466 million)
This is also good news for Sainsbury’s staff as 127,000 colleagues will share a bonus of over £80 million.
The company has opened 51 new convenience stores and online grocery sales are up just under 20 per cent. There was also 1.1 million sq ft of gross new space added, including 38 new supermarkets, creating over 6,500 new jobs.
Justin King, Chief Executive, said: "Sainsbury's has outperformed because we continue to lead on providing healthy, fresh and tasty food with universal appeal. Total sales, including VAT, excluding fuel, for the year were up 6.7 per cent and like-for-like sales were up 4.3 per cent. Like-for-like sales have grown cumulatively over five years by nearly 25 per cent. Customers recognise the progress we have made in 'Making Sainsbury's Great Again' and we now serve on average over 19 million customers each week. That's one million more than last year and nearly five million more than five years ago.
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