Sample Essay

Sainsbury’s rigorously monitoring 10,000 lines weekly to ensure that they remain competitive. They have reinvested in some of their cost savings in price adjustments. Alongside this we continue to run а highly attractive, sustainable promotional programme.

            They have achieved cost savings of £160 million in the year delivering а total of £250 million since they began the programme. These savings will be reinvested in enhancing the customer offer, building sales and in improving their operating margins.

They are replacing our legacy systems with ‘best in class’ IT solutions to help us gain competitive advantage. The Accenture relationship continues to go well and systems, which have already been implemented, are delivering substantial business benefits.

Sainsbury’s are second in theUKon-line grocery market with current annualised sales of around £110 million and around 71 per cent coverage ofUKhouseholds, with 25,000 orders per week. Their current market share inLondonis 36 per cent. Improved volumes and better integration of their home delivery service into stores has reduced new customer acquisition costs by 60 per cent and fulfilment costs by 30 per cent in the second half as compared to the first half of the year.


  2008 £m 2009 £m  
Turnover including VAT and sales taxA 18,495 18,206  
VAT and sales tax (1,065) (1,044)  
Continuing operations 17,430 17,154  
Discontinued operations 8  
Turnover excluding VAT and sales tax 17,430 17,162  
Continuing operations – operating profit before exceptional costs and amortisation of goodwill 752 679  
Exceptional operating costs (65) (38)  
Amortisation of goodwill (13) (14)  
Continuing operations – operating profit 674 627  
Discontinued operations – operating loss (2)  
Group operating profit 674 625  
Share of profit/(loss) in joint ventures 3 (1)  
Loss on sale of properties (11) (4)  
Disposal of operations – discontinued 61  
Profit on ordinary activities before interest 727 620  
Net interest payable and similar items (60) (49)  
Underlying profit on ordinary activities before taxB 695 627  
Exceptional items (15) (42)  
Amortisation of goodwill (13) (14)  
Profit on ordinary activities before tax 667 571  
Tax on profit on ordinary activities (206) (200)  
Profit on ordinary activities after tax 461 371  
Equity minority interest (7) (7)  
Profit for the financial year 454 364  
Equity dividends (298) (285)  
Retained profit for the financial year 156 79  
Basic earnings per share 23.7p 19.1p  
Underlying earnings per shareB 24.2p 21.5p  
Diluted earnings per share 23.7p 18.9p  
Underlying diluted earnings per shareB 24.1p 21.3p  
А Including VAT at Sainsbury’s Supermarkets and sales tax at Shaw’s Supermarkets.  
B Before exceptional items and amortisation of goodwill.  

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