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Sainsbury's has reported a 'good first half performance' with like-for-like sales growth, excluding fuel, of 3.9% meaning 15 quarters of consecutive like-for-like sales growth. Posting interim results for 28 weeks to 4th October, the company revealed that total sales were up 7.6% to £10,756 million from £9.998 million the previous year and profit before tax was up 13.3% at £272 million.
Core ranges such as newspapers, magazines and stationery were performing well and the company continued to grow market share in areas such as computer games and books, according to the statement.
Sainsbury's chairman, Philip Hampton, said the results were "a testament to the considerable progress made over the past four years as part of the Making Sainsbury's Great Again recovery plan", adding that Sainsbury's was now a "more robust business, with a strong financial position and capable of responding successfully to the current challenging economic conditions".
Chief executive, Justin King, added: "While we expect the economic environment during the second half to remain particularly challenging, we are developing our offer to continue to meet the needs of customers and maintain our good progress."