Positive performance boost Sainsbury’s market share

Sainsbury’s has thwarted its rivals with a positive interim financial report for the 28 weeks to September 2013.

The supermarket chain has posted total sales of around £13m (up 4% excluding fuel) and underlying profits before tax up 7% to £400m.

Such a result has boosted Sainsbury’s market share to 16.8%, which is the highest it has been for a decade and is a generous nod to 35 consecutive quarters of like-for-like (LFL) growth.

Of the results, Sainsbury’s chairman David Tyler said: “We have had a strong first half to the year, outperforming the market in what remains a tough trading environment. We have grown our underlying basic earnings per share by 9.2% to 16.6 pence, pension-adjusted return on capital employed is up at 10.5% and our interim dividend is 5.0 pence, up 4.2%.”

Meanwhile, the supermarket also revealed that its own-brand food was growing at double the rate of branded goods, following the relaunch of its ‘by Sainsbury’s’ range. It also highlighted the achievement of 100% British fresh pork, complementing its existing 100% British fresh chicken and 100% British or Irish Beef.

Chief executive Justin King said: “Our share of the grocery market is the highest for a decade at 16.8% following 35 consecutive quarters of LFL sales growth. We are helping customers Live Well for Less through high-quality, affordable own-brand products, Brand Match, Nectar and targeted coupon-at-till promotions.

“While customers’ budgets remain tight and any recovery in the economy may take time to take effect, our consistent strategy and strong values-driven culture mean we are well placed to continue to deliver for customers, colleagues and shareholders.”

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