Asda report profits boost as the price war rages on

Asda experienced a profitable year last year, showing an increase of 5 per and out-doing their rivals in the race to financial stability.
Tesco on the other hand were recently exposed for a huge black hole in their profits, which could possibly have been caused by figure fiddling to increase their share prices (the investigation is still under way). Asda seem to have succeeded in making the most out of their customers.
By keeping costs down, and having less of a reliance on big bargains like buy-one-get-one-free, Asda have kept customers coming back. They have also reportedly cut down on wastage and distribution costs. Altogether, these efforts have helped buoy the store up financially through a time when people have been keeping a close eye on what they spend.
Overall, underlying profits rose to £718.6 million for the big store (excluding payments made to its parent store), and shows that it hasn’t been affected so much by the discounters which have been gaining market share.
This is unlike Tesco and Morrisons, who have suffered with stores like Lidl and Aldi, as well as Waitrose at the premium end, gathering a bigger share of the market.