Plus   Neg

J Sainsbury FY Profit Down

J Sainsbury plc (SBRY.L) reported that its profit after tax for the 52 weeks to 9 March 2019 was 219 million pounds or 8.9 pence per share, down from 309 million pounds or 12.7 pence per share last year, due to non-underlying charges relating to legislation on Guaranteed Minimum Pensions; retail restructuring; Sainsbury's Bank transition; Asda transaction and Argos integration.

Underlying profit before tax was 635 million pounds, up 7.8 per cent, driven by solid food performance, delivery of 160 million pounds Argos synergies nine months ahead of schedule and reduced interest costs.

Underlying earnings per share increased to 20.3 pence from 19.1 pence in the previous year.

Revenue grew to 29.01 billion pounds from 28.46 billion pounds last year.

The Board has recommended a final dividend of 7.9 pence per share, compared to 7.1 pence paid last year. This will be paid on 12 July 2019 to shareholders on the Register of Members at the close of business on 7 June 2019.

The company noted that retail markets are highly competitive and very promotional and the consumer outlook continues to be uncertain. However, it is well placed to navigate the external environment and remain focused on delivering strategy.

For comments and feedback contact: editorial@rttnews.com

Business News

Editors Pick
The U.S. Food and Drug Administration has granted accelerated approval to Tazverik for the treatment of adults and pediatric patients aged 16 years and older with metastatic or locally advanced epithelioid sarcoma not eligible for complete resection. Epithelioid sarcoma is a rare sub-type of soft... STIHL recalls about 16,400 STIHL RE 90 pressure washers due to injury hazard. According to the company, the recalled pressure washer nozzle can disconnect from the spray wand when under pressure during use, posing an injury hazard. STIHL said it received seven reports of the nozzle detaching from... CVS Health Corp. launched 13 new HealthHUB locations in CVS Pharmacy stores across Philadelphia and South New Jersey. The healthcare company said it developed the HealthHUB store format to help people manage chronic conditions more conveniently and affordably. The store also features health and wellness products, clinical services and expertise.
Follow RTT