Asda Sales Soar By Almost GBP1 Billion

Mon, 26 Nov 2007

Get the latest prices, codes, vouchers & deals fortnightly.

Asda has announced an increase in sales by almost £1 billion in the year to December 31st 2006.

The Wal-Mart owned supermarket reported an increase in turnover to £15.7 billion, up from £14.8 billion the previous year. Pre-tax profit rose from £572 million to £593 million and operating profit increased by £17.1m.

Like-for-like growth was described as being in the "low single digits", resulting in a 0.2 per cent rise in market share to 10.8 per cent, according to accounts filed this weekend at Companies House .

Asda said in its filing: "2006 was a year for recovery for the group . The improvement in the performance during the year was a result of executing a customer focused strategy ".

Despite a good showing for the year, profits have yet to have yet to recover to 2004 levels– when the company reported a £692 million pre-tax profit .

Members of staff - who shared a £22.8m bonus in 2006 - at Asda stores throughout the UK increased by over 6,000 as the group opened 22 new supermarkets in 2006.

Sainsburys Bans Unsustainable Palm Oil - Fri, 23 Nov 2007

Online Groceries Not As Fresh As Store Items - Thu, 22 Nov 2007

Plans For New Sainsburys Store Rejected - Wed, 21 Nov 2007

Asda To Overhaul Too Young George Range - Tue, 20 Nov 2007

Consumers Unaware That Most Supermarket Food Is GM - Mon, 19 Nov 2007

Significant Growth In Sainsburys Online Sales - Thu, 15 Nov 2007

Sainsburys Announce 20 Per Cent Rise In Profits - Wed, 14 Nov 2007

Waitrose Trials Rapeseed Oil On Lorries - Tue, 13 Nov 2007

Tuna Products From Sainsburys Recalled Amid Health Scare - Mon, 12 Nov 2007

Supermarkets Making It Easier For Children To Afford Cheap Alcohol - Fri, 09 Nov 2007

More news