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Sainsbury's sees profit at upper end of range after Christmas sales rise

Sainsbury's sees profit at upper end of range after Christmas sales rise

© Reuters. FILE PHOTO: An employee arranges produce inside a Sainsbury?s supermarket in Richmond, west London, Britain, June 27, 2022. Picture taken June 27, 2022. REUTERS/Henry Nicholls/File Photo

LONDON (Reuters) – Sainsbury’s, Britain’s second biggest supermarket group, forecast full year profit towards the upper end of its previously guided range as it reported a 5.9% rise in underlying sales for the Christmas quarter.

The group, which has a 15.5% share of Britain’s grocery market, has previously forecast 2022-23 underlying pretax profit of between 630 million pounds and 690 million pounds ($767-$840 million). It made 730 million pounds in 2021-22.

Written by biedexadmin