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%
- 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