Asda profits top 1bn despite falling sales

12 October 2015 - Janet Bird

Asda profits top 1bn despite falling sales

Falling sales failed to stop Asda from making operating profits in excess of 1 billion last year.

Britain's second largest supermarket saw like for like sales dip one percent during the twelve months ending December 31, 2014. Yet its operating profits rose 1.9 percent to 1.04 billion during the same period, in stark contrast to the major drop in profits experienced by Tesco, Morrisons and Sainsbury's.

Asda also continued to grow its estate in 2014. As well as opening 17 new stores, it further developed its online operations, rolling out 'click and collect' to 590 stores.

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