The company’s profit before tax is said to be £798 Million in the past 12 months to the 15th March. The general retail sales grew by 2.7%
The majority of the big UK leading supermarkets have this year struggled to counter the ever rising cheaper supermarkets such as Aldi and Liddle. The big players such as Tesco reported a 6% fall in their annual profits. Other leaders such as Morrisons and CO-OP reported significant annual losses.
The CEO Justin King of Sainsbury's said that the conditions within the UK grocery market will remain difficult for some time as consumers continue to spend cautiously. Justin is now due to step down from his CEO position in July.
In the past year Sainsbury's has opened 13 new supermarkets and 91 of its local stores, as well as expanding and developing existing stores across their network.
The company’s high end product range called "Taste the Difference" grew quite significantly with records of a double digit growth with more than £1.1billion worth of sales.