Sainsbury’s fuel business has given a marginal boost to the group’s overall results which were published today.
In its annual results for the 52 weeks to March 15 it reported group sales of £26.36bn, up 2.8% on the previous year. However, when fuel sales were stripped out from the figures, the sales increase was slightly lower at 2.7%.
Like-for-like sales, excluding fuel, were up 0.2%, and pre-tax profit was up 5.3% to £798m.
It also revealed that its convenience stores grew sales by 19% during the year and claimed they now account for a third of Britain’s convenience market growth. During the financial year it opened 91 convenience stores.
Chief executive Justin King, who stands down in July after 10 years in the role, commented: “We remain committed to investing for the future and continue to see significant opportunities for growth. We remain confident that our differentiated offer, supported by the ‘value of values’, Nectar data and Brand Match, will allow us to outperform our peers in the year ahead.”