Supermarket chain Sainsbury's has announced that it has seen a boost in sales, as the company says it is winning over customers from its rivals, Michael Crossland Reports.
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00:00 Hello, I'm Michael Crosland, Business Reporter with the Yorkshire Post, here this morning
00:04 with a brief update from supermarket chain Sainsbury's, which has announced that its
00:10 underlying profits for the year ending March have hit ÂŁ701 million, slightly ahead of
00:16 the company's previous expectations. The company said that an uptick in its food business
00:22 had led to increased sales, adding that it had been winning customers from all its key
00:26 competitors. In a large part because of this, the company saw sales increase 9.4% on the
00:33 year prior. Chief Executive Simon Roberts said that the company had now put food back
00:38 at the heart of Sainsbury's and that the business was now firing on all cylinders.
00:44 The firm's premium taster difference range was also up 12% for sales on the year prior.
00:51 The company did however see its pre-tax profits fall 15% to ÂŁ277 million. Sainsbury's said
00:59 it had been impacted by preparations for its phased withdrawal from banking, which it announced
01:05 at the start of this year. That's all for the time being, I'm Michael Crosland, reporting
01:11 for the Yorkshire Post.
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