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SAINSBURY'S REPORTS PRELIMINARY RESULTS FOR 1991/92

 SAINSBURY'S REPORTS PRELIMINARY RESULTS FOR 1991/92
 LONDON, May 13 /PRNewswire/ -- The major UK food retailer,


J Sainsbury plc today announced its preliminary results for 1991/92.
 The main points are:
 - Group sales up pounds sterling 1 billion to pnds 9.2 billion.
 - Group profit before property items pnds 632 million: up 25 percent or 18.4 percent excluding the benefit of the rights issue.
 - UK market share increased 0.4 to 10.4 percent, widening the lead over principal competitors.
 - Record increase in supermarket sales area.
 - Thirteenth successive year in which dividend per share increased 20 percent or more.
 The company's chairman, Lord Sainsbury, commented: "I am delighted to report another year's good performance. Group profit before property items increased by 25 percent to pnds 632 million. Over the last 20 years our compound rate of profit growth has been 23 percent per annum.
 "Our very satisfactory market share increase in this time of recession demonstrates the excellent value for money we offer. Our exceptionally keen prices and consistent high quality result from our substantial investment program, improving efficiency and continuing productivity gains."
 J. SAINSBURY PLC
 Audited Consolidated Results
 (Figures in millions pounds sterling).
 For the 52 weeks ended 3/14/92 3/16/91 Percentage
 - Increase
 UK Sales 8,159.2 7,231.7 12.8
 US Sales 1,043.1 968.8 7.7
 GROUP SALES 9,202.3 8,200.5 12.2
 UK Operating Profit 646.3 554.8 16.5
 US Operating Profit 21.4 30.2 (29.1)
 GROUP OPERATING PROFIT 667.7 585.0 14.1
 Interest receivable/(payable) 12.7 (35.6)
 Associates 1.2 0.3
 UK profit sharing (49.4) (44.0)
 GROUP PROFIT
 (before property items) 632.2 505.7 25.0
 Property items (4.2) 12.5
 GROUP PROFIT BEFORE TAX 628.0 518.2 21.2
 Taxation 184.5 163.4
 GROUP PROFIT AFTER TAX 443.5 354.8 25.0
 FULLY DILUTED EARNINGS
 PER SHARE (pence) (A)
 (before property items) 25.43p 21.74p 17.0
 DIVIDEND PER SHARE (A) 8.75p 7.27p 20.4
 Sales include VAT and sales taxes.
 (A) 1991 figures restated for rights issue.
 Sainsbury's Supermarkets and Savacentre
 Sales increased 12.9 percent to pnds 7.9 billion, 7.8 percent being contributed by net new sales area. Market share rose from 10.0 percent to 10.4 percent, widening our lead over principal competitors.
 Sainsbury's prices were approximately 2 percent below the average for large supermarket retailers reflecting the strength of our perishable trade and the Sainsbury brand.
 Operating profit increased 17.3 percent and benefited from better than expected sales in the last quarter, improving productivity and very close control of costs.
 Twenty-one supermarkets opened and seven closed giving a record net increase in supermarket sales area of 681,000 square feet. Over 40 percent of total sales area is less than five years old.
 The year's new supermarkets included our first in Scotland and our largest, near Southampton. New stores are performing well whilst the quality of sites on our forward program is outstanding.
 Homebase
 Sales at Homebase, the company's D.I.Y. division, were up 14.7 percent to pnds 257.6 million and operating profit up 17.7 percent to pnds 15.5 million despite adverse market conditions. Market share continued to increase. Four new stores opened and one closed, bringing the total to 64.
 Shaw's
 Despite the severity of the recession in New England, United States, and only three new openings, Shaw's maintained market share. Nevertheless the results were disappointing with sales increasing 2.4 percent to U.S. dollars 1,813 million, and operating profit decreasing 33 percent to $37.2 million. Shaw's brand products, which are modeled on Sainsbury's standards, achieved outstanding success.
 -0- 5/13/92
 /CONTACT: Christopher Leaver, J Sainsbury plc, tel London +44 71 921 6577/ CO: J Sainsbury plc ST: IN: REA SU: ERN


TQ -- NY012 -- 9476 05/13/92 08:28 EDT
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Publication:PR Newswire
Date:May 13, 1992
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