Friday, October 31, 2014   

UK supermarket Sainsbury's books higher profit
(05-07 15:17)

British supermarket chain Sainsbury's unveiled a rise in annual net profits on Wednesday, but its outgoing chief executive warned of challenges ahead.
Profit after tax rose 19 percent to 716 million pounds in the year to the end of March compared with 2012/13, the company said in an earnings statement.
Revenues increased 2.8 percent to almost 24 billion pounds.
"In a competitive retail environment we have focused on delivering high quality, affordable own-brand products,'' said chief executive Justin King.
"While the general economic outlook is showing some signs of improvement, conditions in the food retail sector are likely to remain challenging for the foreseeable future as customers continue to spend cautiously,'' he added in the statement.
King had already announced his intention to leave the company later this year after a decade at the helm. He will be succeeded by Mike Coupe, Sainsbury's commercial director. --AFP
   
Other Business breaking news:
European stocks rally at open (21 mins ago)
Panasonic says half-year profit dives (1 hr 16 mins ago)
Nikkei soars to seven-year high (1 hr 25 mins ago)
Japan Airlines H1 net profit slips (1 hr 26 mins ago)
Sony says half-year loss balloons six-fold (1 hr 27 mins ago)
RBS sets aside 400m pounds for forex probes (1 hr 28 mins ago)
BoJ chief says at 'critical moment' for exiting deflation (1 hr 28 mins ago)
BOJ expands monetary easing plan as economy slows (1 hr 35 mins ago)
Athens stock market down 3.6pc (10-30 18:36)
Toshiba half-year net profit surges (10-30 17:27)

More breaking news >>

© 2014 The Standard, The Standard Newspapers Publishing Ltd.
Contact Us | About Us | Newsfeeds | Subscriptions | Print Ad. | Online Ad. | Street Pts

 


Home | Top News | Local | Business | China | ViewPoint | CityTalk | World | Sports | People | Central Station | Spree | Features

The Standard

Trademark and Copyright Notice: Copyright 2014, The Standard Newspaper Publishing Ltd., and its related entities. All rights reserved.  Use in whole or part of this site's content is prohibited.   Use of this Web site assumes acceptance of the
Terms of Use, Privacy Policy Statement and Copyright Policy.  Please also read our Ethics Statement.