Asda profits surge as price and quality focus pays off

Asda's profits rose last year

Asda has reported a rise in annual profits as improvement initiatives at the Walmart-owned grocer bore fruit.

Statutory accounts for Asda Group’s last financial year showed operating profit up 9.2% to £803.2m on sales 3.1% ahead to £22.92bn.

Like-for-likes, excluding fuel and VAT, advanced 1.6% in the period to December 31 2018, when net cashflow from operating activities was £1.29bn.

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