Sainsburys' Interim Financial Statement (IFS) released today is full of good news for all stakeholders.
The results show that the High street retail giant's total sales went up 4.4% to £13.9bn against £13.3bn for the same period last year, 0.4% of which represented fuel sales; total like-for-like sales, excluding fuel, went up 1.4 per cent.
Sansburys revealed a Profit before tax which went up 7.0% to £400m against £374m for the same period last year and they grew their market share because of the "way we look after our customers."
Sainsburys' Chairman, David Tyler, said: “We have had a strong first half to the year, outperforming the market in what remains a tough trading environment."
He said positive news from Sainsbury's include the growth of thier underlying basic earnings per share by 9.2% to 16.6 pence, pension-adjusted return on capital employed up at 10.5% and interim dividend is up 4.2% to 5.0 pence.
The Chief Executive, Justin King, said: “Our share of the grocery market is the highest for a decade at 16.8 per cent following 35 consecutive quarters of like-for-like sales growth."
Mr. King said Sainsburys help customers "Live Well for Less" through high-quality, affordable own-brand products, Brand Match, Nectar and targeted coupon-at-till promotions.
Sainsbury's said the result show they have maintainted leadership potential and remain the only chain that did not suffer any embarrassing scandal for any of their products during the period under review.
They said their values are very important and they have made sure it is difficult to replicate. "Customers appreciate the quality of service and the values we stand for".
For that reason, Sainsbury's say they believe it is alright to protect their values. They are optimistic and are working with a guidance for growth of 1% - 1.5%, year-on-year, for the rest of the full year.
Sainsbury's said, through they are not resting on their laurels, they proud to reveal an operating performance which showed they outperformed the competition, increasing their market share to 16.8%, the highest for a decade.
The retail giant said they also completed 35 consecutive quarters of like-for-like sales growth, with excellent customer service levels. They also revealed the win of 15 out of 28 Grocer, 33 Service and Availability awards and an operational cost savings of around £55 million.
They said they are on track for "around £100 million for the full year Improved underlying operating margin by 7 bps to 3.47% (up 6 bps at constant fuel prices."
Sainsburys has also won the following awards; Supermarket of the Year Award, for the 6th time in eight years; Convenience Chain of the Year Award, for the 4th consecutive year; Online Retailer of the Year for the 2nd consecutive year; Grocer Gold Awards; FTSE 100 Business of the Year; Retail Industry Awards and National Business Awards.
Sainsburys said strategic plan for recovery of a funding deficit of £592 incured through the benefit pension fund remain unchanged.
New market developments are still an the agenda because Sainsburys say they believe the area of London they cover still has room for expansion. They referred to their most recent store opened at the Tottenham Sports grounds in North London as an example of their continuing drive to expand to new areas.
Sainsburys is the second largest chain of supermarkets in the United Kingdom.
* Twitter: @bensonagoha.
* Twitter: @woolwichonline.
To read more on Sainsburys IFS, click on the coloured text >>> [.]SAINSBURYS-INTERIM-FINANCIAL-STATEMENT.
No comments:
Post a Comment
Please add your comments here