Sainsbury's Heralds 'Start of Recovery' As Sales Pick Up ; City Briefing

Evening Standard - London › May 18, 2005

Linked as:

Summary

SAINSBURY's chief executive Justin King today painted a brighter future for the ailing supermarkets chain despite a plunge in full- year profits, promising its recovery remains on track.

After hefty exceptional charges, operating profits crashed from Pounds 675 million to Pounds 254 million as total sales of continuing operations rose 5.5% to Pounds 16.4 billion.

See the full content of this document

Extract

Sainsbury's Heralds 'Start of Recovery' As Sales Pick Up ; City Briefing

Pre-tax profits were just Pounds 15 million, down from Pounds 610 million last time. As previously warned, the dividend total for the year to 26 March is halved to 7.8p a sha...

See the full content of this document