Business
Business

Sainsbury's sees both sales and profits rise

Sainsbury's store
Image caption Sainsbury's is adding new stores across the UK

The supermarket group Sainsbury has said both sales and profits rose over the year to 31 March.

Underlying pre-tax profit from core operations rose 17.5% to £671m ($1bn).

Same-store sales, which strip out the effect of new store openings, rose by 4.3%. The figure also excludes fuel sales.

The UK's third-biggest supermarket chain opened 51 new convenience stores over the year. Chairman David Tyler said sales growth was beating rivals'.

"We have delivered sales growth ahead of the market and good profit growth," he said.

Some 127,000 of Sainsbury's staff will share a record bonus pot of £80m.

New stores

Market Data - BBC News

Market Data

Share Prices

Markets

UK markets
UK markets % change Value
Change
+0.49%
7367.32
+36.20
+0.25%
20551.26
+50.81
Europe markets
Europe markets % change Value
Change
+0.81%
547.45
+4.38
+1.07%
5451.59
+57.85
+0.88%
12326.48
+107.46
+1.03%
3403.12
+34.56
+1.03%
9583.70
+97.40
US markets
US markets % change Value
Change
+0.92%
26648.94
+243.18
+0.91%
8022.63
+72.59
+0.73%
2929.18
+21.23
Asia markets
Asia markets % change Value
Change
-0.45%
37121.22
-169.45
+0.26%
27477.67
+70.30
+0.01%
23674.93
+2.41
As of 16:44 20 Sep 2018

Currencies

GBP
% change One £ buys
Change
GBP against Euro
+0.03%
€1.1264
0.0000
GBP against Yen
+0.94%
¥149.0050
+1.3900
GBP against USD
+0.72%
$1.3239
+0.0090
USD
% change One $ buys
Change
USD against Euro
-0.65%
€0.8511
-0.0060
USD against GBP
-0.70%
£0.7554
-0.0050
USD against Yen
+0.21%
¥112.5250
+0.2400
Euro
% change One € buys
Change
Euro against GBP
-0.02%
£0.8878
0.0000
Euro against Yen
+0.92%
¥132.2850
+1.2000
Euro against USD
+0.70%
$1.1754
+0.0080
Yen
% change One ¥ buys
Change
Yen against Euro
-0.91%
€0.0080
0.0000
Yen against GBP
-0.93%
£0.0070
0.0000
Yen against USD
-0.21%
$0.0090
0.0000
As of 16:44 20 Sep 2018

Commodities

Oil
Commodity % change dollars per barrel
Change
Brent Crude Oil Futures
-0.86%
78.72
-0.68
WTI Crude Oil Futures
-0.54%
70.39
-0.38
Gold
Commodity % change dollars per ounce
Change
Gold (Forex Index am fix)
+0.30%
1203.00
+3.60
Gold (Forex Index pm fix)
+0.26%
1203.30
+3.10
Natural Gas
Commodity % change dollars per million BTU
Change
Natural Gas (Henry Hub Futures)
+2.58%
2.98
+0.08
As of 16:42 20 Sep 2018

Sainsbury's chief executive, Justin King, told the BBC he was confident about the company's prospects.

"We're growing very strongly," he said.

Our sales have been growing strongly in the last year and as we've reported today we've converted that into good profit growth."

As well as the convenience stores, the chain added 38 new supermarkets and has almost 900 outlets across the country.

It is also expanding its online grocery business, sales here were up by 20%.

More on this story

Related Internet links

The BBC is not responsible for the content of external Internet sites