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Brokers Tips

Sainsbury raises the bar

05 October 2015

J Sainsbury said full-year profits should beat market expectations, but most analysts remain at best neutral.

Shares in J Sainsbury (SBRY) took an astonishing 14 per cent leap on the day the supermarket chain’s second quarter trading update was published. Total sales nudged up 0.3 per cent following declines in both the first quarter and the financial year to 14 March. Like-for-like sales fell 1.1 per cent - better than the declines of around 2 per cent registered in previous periods. Best of all, underlying profits for the year are expected to be "moderately" ahead of market expectations.

Sainsbury raises the bar

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