J Sainsbury Reports 9.4% Rise In Full-Year Profit

J Sainsbury PLC

released its results for the full year on Wednesday. The company reported its full-year profit at 640 million pounds ($1.05 billion), up from 585 million pounds, in the year-earlier period. The company's earnings per share surged 7.2% to 34.4 pence from 32.1 pence. Its total sales including value added tax increased 7.1% to 22.94 billion pounds from 21.42 billion pounds. However, its total sales including VAT and excluding fuel surged 4.9%. Its comparable sales increased 2.3%. The company's underlying pretax profit surged 9% to 665 million pounds, versus analysts' estimates of 661 million pounds. Sainsbury also declared a full-year dividend of 15.1 pence. Sainsbury shares gained 1.09% to close at $23.24 yesterday. Read more