Profits boost for Sainsbury's
First-half profit climbed 27 percent on increased organic food sales.
The supermarket giant has a 4.7 per cent increase in turnover to
£10bn. Pre-tax profits came in at £240m for the six-month period to 6 October,
while like-for-like sales excluding fuel grew 4 per cent. However, despite an
earlier rise, its shares fell 3 per cent over the day. In April, private equity
firm CVC aborted its bid for Sainsbury's following opposition from the
Sainsbury family, which holds an 18% stake in the business. Sainsbury's hopes
its property venture with UK developers Land Securities will appease investors
looking for the retailer to unlock some value from its estate.
Related news
Related news
IKEA is expanding its services in seven large rural towns
In the spirit of affordability and accessibility, IKEA is constantly…
Read more >Summer arrives early with the new flavour of Borsodi Friss
The Borsodi Friss product line is being expanded with a…
Read more >NAK-FruitVeB: there is also plenty of Hungarian horseradish for export
In addition to the domestic market, there is plenty of…
Read more >