Sainsbury's profit down 39% as COVID-19 costs offset strong sales

Sainsbury's profit down 39% as COVID-19 costs offset strong sales - Copyright (c) Copyright Thomson Reuters 2021. Click For Restrictions - https://agency.reuters.com/en/copyright.html

Copyright (c) Copyright Thomson Reuters 2021. Click For Restrictions - https://agency.reuters.com/en/copyright.html

By Reuters

Published on 29/04/2021 - 05:45•Updated 20/04/2024 - 02:21

LONDON (Reuters) - Britain's Sainsbury's on Wednesday reported a 39% fall in full year underlying pre-tax profit to 356 million pounds ($494 million) as strong food sales during the pandemic were outweighed by extra costs and the forgoing of business rates relief.

($1 = 0.7204 pounds)

(Reporting by James Davey; editing by Michael Holden)

You might also like

Nervousness about risk has led to people stepping back from investments such as cryptocurrency

Now playing Next

What's going to be different with the halving of Bitcoin this time?

A campaign by the European Parliament to call upon people to register to vote.

Now playing Next

EU Policy. Meta, TikTok, X invited to stress-test DSA election guidelines

Derya Matras, Vice President Northern Europe, Middle East and Africa speaks at the at the Meta AI Day in London, Tuesday, April 9, 2024.

Now playing Next

Meta teases new 'much more useful' version of its AI model Llama