Financial performance

Sainsburys store in Dawlish, Devon

Financial performance

Here is an overview of our financial performance. More detailed information is available in the Investor section.

Summary income statement
52 weeks to 16 March 2013
2013
£m
2012
£m
Change
%
Sales (including VAT) 25,632 24,511 4.6
Sales (excluding VAT) 23,303 22,294 4.5
Underlying operating profit 829 789 5.1
Underlying net finance costs1 (111) (109) (1.8)
Underlying share of post-tax profit from JVs2 38 32 18.8
Underlying profit before tax 756 712 6.2
Profit on disposal of properties 66 83 (20.5)
Investment property fair value movements (10) n/a
Financing fair value movements (10) (16) 37.5
IAS 19 pension financing (charge) / credit (5) 17 (129.4)
One-off items (9) 3 (400.0)
Profit before tax 788 799 (1.4)
Income tax expense (174) (201) 13.4
Profit for the financial period 614 598 2.7
 
Underlying basic earnings per share 30.7p 28.1p 9.3
Basic earnings per share 32.6p 32.0p 1.9
Dividend per share 16.7p 16.1p 3.7
  1. The standard rate of VAT increased from 15 per cent to 17.5 per cent on 1 January 2010 and to 20 per cent on 4 January 2011.
  2. Net finance costs before financing fair value movements and the IAS 19 pension financing element.
  3. The underlying share of post-tax profits from joint ventures is stated before investment property fair value movements and financing fair value movements.

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Business structure

J Sainsbury plc consists of Sainsbury's supermarkets and convenience stores, as well as Sainsbury's Bank.

Sainsburys staff

Business strategy

The company's strategy centres around five areas of focus, which are underpinned our strong heritage and brand.

Shirt by TU

Financial information

Overview of our financial performance. Detailed information is available in the 5 year summary and Investor section.

Sainsburys store in Dawlish, Devon