Latest Results

06 November 2025

Interim Results 2025/26

Winning combination of value, quality and service driving continued market share gains

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"We started this year with one clear priority - to sustain the strong competitive position we have built over the last five years. We have delivered on this in the first half, with focused and effective investment to ease cost-of-living pressures, keeping price inflation behind the wider market and delivering our winning combination of great value, trusted quality and leading service. This has driven continued grocery volume growth ahead of the market for a fifth consecutive year and a profit performance ahead of our expectations."

Simon Roberts
Chief Executive

2025/26 Outlook

Our focused and effective investment in value, quality and service in the first half further strengthened our customer proposition relative to competitors and helped deliver a sales and profit performance ahead of our expectations. This means that, while we will continue to make balanced choices to invest and sustain the strength of our competitive position through the most important trading period of the year, we now expect Retail underlying operating profit of more than £1 billion. We continue to expect to deliver Retail free cash flow of more than £500 million.

Strategic highlights

5th consecutive year

grocery volume growth ahead of market

More and more customers

shopping with us for their big trolley shop

Growing food space

and bringing more range to more customers

Improved

competitive position and value perception

Widening the gap

on quality perception

Leading

on customer satisfaction

Your Nectar Prices

accessible to millions more customers

Growing

 market share in Argos

On track

to deliver £1 billion of cost savings

Balanced choices delivering strong momentum

Halfway through the three-year plan that we set out in February 2024, we are making good progress against our commitments, further strengthening our customer proposition relative to competitors whilst navigating high levels of operating cost inflation. This is delivering continued strong momentum as more and more customers are trusting us to consistently deliver great value alongside the outstanding quality and service they have always expected from Sainsbury’s.

4.8%

Retail sales growth (exc. fuel, exc. VAT)

H1 24/25: 3.3%

£504m

Retail underlying operating profit

H1 24/25: £503m

£310m

Retail free cash flow

H1 24/25: £425m

10.3p

Underlying basic earnings per share

H1 24/25: 9.2p

£165m

Statutory profit after tax

H1 24/25: £76m

9.0%

Return on capital employed

H1 24/25: 8.5%

4.1p per share

Interim dividend

H1 24/25: 3.9p

11.0p per share

Special dividend

£250m

FY 25/26 share buyback,
including £50m addition

Get in touch 

If you have any questions about our Interim Results or would like to arrange a meeting with us to find out more about our investment case, please email the Investor Relations team.

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