Sainsbury’s Defies City with Rise in Profits
Saturday, May 15, 2010 12:24Posted in category News
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Supermarkets have been locked in a fierce competition to grow sales in a hostile economic climate. These days, supermarket Sainsbury’s has bettered City expectations by announcing a 17% rise in annual profits. Underlying pre-tax profits at UK’s third largest grocer rose to £610 million for the year, whereas experts had pencilled in £600 million. Staff will be sharing in the success as a bumper bonus pot of more than £80 million will be handed out among 127000 employees.
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