Sainsbury’s sees 2.5% rise in profits, with online shopping boosting sales

Supermarket Sainsbury’s reports its latest figures that show positive results

16:18 14 November 2012

The supermarket giant Sainsbury’s has recorded a 2.5per cent rise in profits before tax of £405million. The increase relates to a half-year period, and the figures are up by £5million from their last set of statistics, which were £395million.

 

Sainsbury’s has said that their sales have risen 4per cent in the last six months – as stated in a report by the BBC – leading up to the end of September, and that this is inclusive of VAT and fuel,.

 

Britain’s third largest supermarket has seen like-for-like sales grow by 1.7per cent, according to reports, with their market share also being on the up by being at its highest in nearly ten years.

 

Online shoppers have helped improve Sainsbury’s sales with the group’s online business growing steadily.

 

Grocery items are thought to be popular products that are being bought by consumers, and as expressed in a statement by the firm many people are placing grocery orders.

 

It is understood that Sainsbury’s convenience stores are also a strong point for the group, and that this area of the company is growing with an expansion of at least one store a week.

 

Chief Executive of Sainsbury’s, Justin King, is thought to be rather pleased with the recent outcome in sales and profits.

 

Sainsbury’s positive results come after the UK’s largest supermarket firm, Tesco’s, reported a fall in profits in October.

 

Sainsbury's to date has around 490 convenience outlets.