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Asda shrugs off unsuccessful merger with sales and profits up

Despite the collapse of the proposed merger with Sainsbury’s, investors had much to cheer with profits, sales and like for likes all increasing in the year to December 2018.

  • Operating profit increased 9% (declined by 13% in 2017
  • Full year revenue increased by 2%
  • Like for like sales were up 1.6%
  • Pre tax profit was up nearly 13%

SUPR view

  • It is encouraging to see that despite preparation work for the merger Asda has maintained its focus on grocery performance
  • Asda has continued to develop its own brand range, as well as lowering prices on customers favourites to stay competitive
  • Uncertainty still remains over the future form of the grocer – it is likely that owner Walmart will look at a flotation in the medium term

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