Sainsbury's profits rise to £665m

Sainsbury's profits rise to £665m

British supermarket giant Sainsbury’s said today that its staff will share a bonus pot of around £60m (€68m) after it posted a 9% rise in annual profits to £665m (€757m).

The pay-out for 124,000 workers, which compares with a bonus pool of more than £80m (€91m) last year, comes after the group overcame a faltering market to increase sales by 7.1% to £22.9bn (€26m) in the year to March 19.

Average customer transactions rose to 21 million a week, up 1 million on a year ago, while the chain also said it benefited from the opening of new stores and strong growth in non-food ranges.

Its Sainsbury’s Local convenience stores broke through the £1bn (€1.1bn) sales barrier for the first time and its online grocery delivery business grew by 20%.

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