Sainsbury’s FY 2015/16 sales decreased by 1.1% to £23.506bn as food deflation remains low and, as the second largest UK grocer, it continues to cut prices. Despite the cost saving plans (£225m), the underlying operating profit for retailing lost ground to reach £635m. Net profit stood at £471m vs. a negative result over the last year, of which £628m was impairments and onerous contract charges. Net debt including perpetual securities accounted for £2.
05 May 2016
Diversification while the core business is struggling
Sign up to access
Get access to our full offering from over 30 providers
Get access to our full offering from over 30 providers
Diversification while the core business is struggling
J Sainsbury plc (SBRY:LON) | 271 -4.1 (-0.6%) | Mkt Cap: 6,422m
- Published:
05 May 2016 -
Author:
Ranya GNABA -
Pages:
3
Sainsbury’s FY 2015/16 sales decreased by 1.1% to £23.506bn as food deflation remains low and, as the second largest UK grocer, it continues to cut prices. Despite the cost saving plans (£225m), the underlying operating profit for retailing lost ground to reach £635m. Net profit stood at £471m vs. a negative result over the last year, of which £628m was impairments and onerous contract charges. Net debt including perpetual securities accounted for £2.