ACR-News
Know what you want? Try our 'Supplier Directory' 

Sainsbury’s sees profits tumble

Sainsbury’s has seen its full year profits fall by 8.2% to £503m, according to its preliminary results announcement for the 52 weeks to 11 March 2017.

Sainsbury’s has seen its full year profits fall by 8.2% to £503m, according to its preliminary results  announcement for the 52 weeks to 11 March 2017.

Like-for-like sales were down by 0.6%. However, group sales increased by 12.7% to £29,112m, mainly as a result of the Argos contribution, the retailer said.

Chief executive Mike Coupe said: “This has been a pivotal year and we have made significant progress delivering and accelerating our strategy.

“We are pleased with the progress made since we acquired Argos. We have opened 59 Argos Digital stores in Sainsbury’s supermarkets and they are performing well.”

He added: “We continue to find ways to simplify our business and reduce costs. We are on track to deliver our three-year £500 million cost saving programme by the end of 2017/18 and we will deliver a further £500 million of cost savings over three years from 2018/19. We benefit from a strong balance sheet and have reduced our net debt by £349 million to £1,477 million.

The IOR Annual Conference – a conference on-demand

Delegates to the IOR Annual Conference taking place from 21 to 22 April will get the chance to access the event live and all sessions and recordings for up six months afterwards providing fantastic value and allowing anyone registering for the event ...

  01-Apr-2021

Carel@MCE 2024: STone, the new HVACR programming landmark

In the world of programming for HVACR systems, the constant evolution of technologies requires advanced and innovative solutions. In response to this need, Carel is thrilled to present STone, the new programming tool designed to meet the specific ...

  01-Mar-2024

Extending the application range of the SEC HD - Electric Expansion Valve Controller Heavy Duty Series

The SEC-HD is now compatible with variety of applications using CO2, hydrocarbon, and HFC refrigerants. Users can select from a range of pressure transducers tailored to their specific application and market requirements.
  20-Feb-2024
ACR News is the number one magazine in the air conditioning and refrigeration industry. Don’t miss out, subscribe today!
Subcribe to ACR News

Diary

ACR News Awards
BESA National Conference