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- Asda has revealed that profits dipped in 2022 due to accelerating cost inflation but sales edged higher. The UK’s third largest supermarket chain said sales improved significantly in the latter half of the year after investing in price cuts as customers sought bargains in the face of the cost-of-living crisis.
www.standard.co.uk/business/business-news/profits-slip-at-asda-as-shoppers-hit-by-costofliving-crisis-b1070870.htmlProfits slip at Asda as shoppers hit by cost-of-living crisis
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Apr 22, 2024 · Asda, the UK’s third-largest supermarket chain, reported positive financial results for the full year ending 31 December 2023. Asda’s adjusted EBITDA after rent increased by 24% to £1.078bn ($1.33bn), driven by like-for-like sales growth and recent acquisitions.
Apr 22, 2024 · Our strategy is all about growth and Asda increased underlying profit to more than £1bn and like-for-like sales by over 5% last year, while significantly growing free cashflow and reducing leverage.
Mar 29, 2023 · Mohsin Issa, Asda’s co-owner, said: “Asda delivered a highly resilient performance last year. We took a conscious decision to support customers by investing heavily to mitigate the impact of inflation and keep prices as low as possible.
Apr 22, 2024 · Profits at the UK's third-biggest supermarket chain grew 24% in 2023, topping more than £1bn in a year where households struggled with the cost of living. Asda said its bottom line was boosted by ...
- Sarah Taaffe-Maguire
- 1 min
Apr 22, 2024 · LONDON, April 22 (Reuters) - Asda, Britain's third biggest supermarket group, reported a 24% jump in annual earnings to over 1 billion pounds ($1.24 billion), saying it was making strategic...
Nov 14, 2023 · Leeds-based supermarket giant Asda has updated investors on its Q3 trading performance covering the three months to the end of September 2023, reporting revenues of £5.4 billion and a 2.8% increase in like-for-like sales compared to the same period of the previous year.
Aug 15, 2023 · In online grocery, Asda continues to perform strongly, delivering an average of 800k orders per week across the quarter and maintaining its position as the UK’s second largest online supermarket.
