LONDON (dpa-AFX) - J Sainsbury plc (JSAIY.PK, SBRY.L) said its business performed well through the first half, benefiting from higher in-home grocery consumption and outperforming grocery competitors, while general merchandise sales declined against an exceptionally strong period last year. Looking forward, the group said it continues to expect to report underlying profit before tax of at least 660 million pounds in the fiscal year to March 2022.
For the 28 weeks to 18 September 2021, underlying profit before tax was 371 million pounds, up 23 percent from last year. Underlying earnings per share was 11.6 pence compared to 9.8 pence.
Pretax profit was 541 million pounds compared to a loss of 137 million pounds, prior year. Statutory profit before tax reflected significantly lower restructuring and impairment costs versus last year and exceptional income from settling legal disputes. Profit per share was 16.6 pence compared to a loss of 8.3 pence.
Group sales (excluding VAT) increased to 15.72 billion pounds from 14.93 billion pounds, last year. Group sales (inc. VAT) was 17.53 billion pounds compared to 16.56 billion pounds.
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