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Sainsbury's profits up 7.1% Wednesday, 9th May 2012
Photo credit: Sainsbury's press office
Sainsbury's has today reported an increase in sales and market share but a small dip in profits.
Pre-tax profit for the year to 17 March fell to £799 million, down from the £827 million the company made in the previous year.
Total sales were up 6.8 per cent to £24.5 billion. Underlying profit rose by 7 per cent to £712 million.
Sainsbury's market share has hit 16.6 per cent – the highest in over a decade.
Sales were helped by strong performances in the chain's own-brand products, especially its basics and Taste the Difference ranges.
Sainsbury's has said it will increase its dividend from 15.1 pence to 16.1 pence.