Archived article
Please note that tax, investment, pension and ISA rules can change and the information and any views contained in this article may now be inaccurate.
Supermarket giant J Sainsbury swung to a profit in the first half of the year owing to lower costs and an uptick in sales.
For the 28 weeks ended 18 September, pre-tax profit was £541 million compared with a loss of £137 million year-on-year and revenue increased 5.3% to £15.72 billion.
The return to profit reflected 'significantly lower restructuring and impairment costs versus H1 20/21 and £181 million of exceptional income from settling legal disputes,' the company said.
'Whilst customers are returning to many pre-pandemic shopping habits, online sales have remained very strong and we continue to grow market share,' it added.
The company declared an interim dividend an unchanged 3.2 pence a share.
Looking ahead, the company continued to expect to report underlying profit before tax of at least £660 million in the financial year to March 2022