LONDON (dpa-AFX) - J Sainsbury plc (JSAIY.PK, SBRY.L) reported a loss before tax of 261 million pounds for the 52 weeks ended 6th March 2021 compared to profit of 255 million pounds, last year. Loss per share was 13.0 pence compared to profit of 5.8 pence. Underlying profit before tax declined to 356 million pounds from 586 million pounds. Underlying earnings per share was 11.4 pence compared to 18.3 pence.
Fiscal year Group revenue (excl. VAT, inc. fuel) was 29.05 billion pounds, up 0.2% from last year. Underlying Group sales (including VAT) was 32.28 billion pounds, down 0.3 percent. Retail sales (including VAT, excluding fuel) increased by 7.3 percent.
The Group said it continues to expect underlying profit before tax in the financial year to March 2022 to exceed that reported in the year to March 2020 and is comfortable with consensus forecasts of around 620 million pounds.
The Group now expects to reduce net debt by at least 950 million pounds over the four years to March 2023, against previous guidance of 750 million pounds.
The Board has proposed a final dividend of 7.4 pence per share. This brings the full year dividend to 10.6 pence per share, which is in line with last year.
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