FTSE 100: 7682.27 ▲ 125.83 (1.67%)
2 of 6
|No. of shares out||2,190m|
|No. of shares floating||2,132m|
|No. of common shareholders||not stated|
|No. of employees||51900|
|Trading volume (10 day avg.)||8m|
|Profit before tax||£1,348m|
|Earnings per share||16.54p|
|Cashflow per share||44.08p|
|Cash per share||54.06p|
The prize at Sainsbury’s (SBRY) will be increasing productivity as the supermarket integrates its acquisition of Argos, says Shore Capital.
Analyst Clive Black retained his ‘buy’ recommendation on the stock after a post-Christmas update that showed an increase in like-for-like sales of 1.1%, ahead of consensus. The shares rose 1.6% to 252.3p yesterday on the news.
‘Following our last engagement with chief executive Mike Coupe and chief financial officer Kevin O’Bryne in November, we came away impressed and pleased with the grown up, balanced, and measured manner in which they approached the running of their business,’ he said.
‘The prize of us with respect to Sainsbury’s remains a focus upon better utilising its asset base, being more productive, harnessing the planned synergies from the Argos acquisition and so cash generation. With this further stepping stone in Argon integration, and sound group-wide trading, we are pleased to see the broad plan being on-track.’