Sainsbury's reveals successful interim results

The supermarket has its highest market share for a decade
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Sainsbury's has revealed interim results for the 28 weeks to September 28th 2013, and total sales (inc VAT, inc fuel) for the supermarket is up 4.4 per cent to £13,953 million.

Elsewhere, like-for-like sales (inc VAT, ex fuel) is up 1.4 per cent, revenue (ex VAT, inc fuel) is up 4.3 per cent to £12,684 million and profit before tax up 9.1 per cent to £433 million.

The supermarket has also increased its market share to 16.8 per cent, the highest for a decade and a growth that completes 35 consecutive quarters of like-for-like sales growth.

"We have had a strong first half to the year, outperforming the market in what remains a tough trading environment," said David Tyler, Chairman.

"We have grown our underlying basic earnings per share 9.2 per cent to 16.6 pence, pension-adjusted return on capital employed is up at 10.5 per cent and our interim dividend is 5.0 pence, up 4.2 per cent."

Sainsbury’s is now the second largest supermarket in the UK, second to Tesco and above Asda.

Justin King, chief executive added: "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.

"We are helping customers Live Well for Less through high-quality, affordable own-brand products, Brand Match, Nectar and targeted coupon-at-till promotions.

"Whilst customers’ budgets remain tight and any recovery in the economy may take time to take effect, our consistent strategy and strong values-driven culture mean we are well placed to continue to deliver for customers, colleagues and shareholders."

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