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Sainsbury’s staff to receive £70 million in bonuses

Employees could get £580 each, on average, as chief executive Justin King is set to reveal a rise in profits from £519 million to more than £600 million.

BRANDS

Sainsbury’s staff to receive £70 million in bonuses

Analysts have estimated that King himself will collect a cash bonus of more than £1 million as a reward for the hike in profits, while last year he received a bonus of £869,000.

The company is not forecast to provide an update on current trading but King will come under pressure to provide commentary on the outlook for the year, amid weaker price inflation and declining like-for-like sales growth.

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