The annual profits of the second largest supermarket in the United Kingdom, Sainsbury’s, reached 1 billion pounds sterling.
The supermarket chain said that sales and profits increased during the year until March.
He also comes after Sainsbury is announced in January near all of his cafes in store and the loss of 3,000 jobs.
But the high profits should not increase, according to Sainsbury’s, who warned against increased competition while a war price of supermarkets warms up.
Tesco also warned of “Intensification of competition” Last week, as ASDA Executive President earlier this year committed to providing profits in favor of price reductions.
Sainsbury’s said that he had spent 1 billion pounds Sterling in prices, which led to a “record year of the grocery store”, its greatest gain in market share in more than a decade, because more people have chosen Sainsbury for their main shop.
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It is the second most popular supermarket with a market share of the advance on ASDA but below Tesco, according to the latest figures from the Kantar market research company.
The same year, the supermarket announced its intention to reduce more than 3,000 jobs and the closure of its remaining 61 cafes as well as hot dishes, pastries and pizza meters, to save money in a “difficult cost environment”.
This exercise, the profits should once again be around 1 billion pounds sterling, in accordance with the 1.036 billion sterling pounds in underlying detail for the benefit of exploitation announced today for the financial year completed in March.
The grocer was a vocal criticism of the government’s increase in national employers’ insurance contributions and said in January an additional £ 140 million Following the hike.
National higher insurance invoices are not captured by the annual results published Thursday, because they only took effect in April, apart from the exercise from 2024 to 2025.
Supermarkets preparing for a price war and not the swelling benefits could be good news for the prices of the shelves, according to the investment director of the online planner AJ Bell, RUSS Mold.
“The main winners of a price war would ultimately be the buyers,” he said.
“Like Tesco, Sainsbury’s wants to equip himself to protect his competitive position, hence his advice for a flat profit during the coming year, because he seeks to offer customers a value for money.”
However, there was a warning from Sainsbury that the contributions to higher national insurance will increase costs for consumers.
The workshops are planned in “key targets”, according to the results of Sainsbury, which, as well as other openings, “offers a unique opportunity to generate new market share”.