Safeway pre-tax profits up 33% - Farmers Weekly

Subscribe and save

Farmers Weekly from £133
Saving £46
In print AND tablet

SUBSCRIBE NOW

sub_ad_img

Safeway pre-tax profits up 33%

17 May 2001
Safeway pre-tax profits up 33%

By FWi staff

SUPERMARKET group Safeway has announced a turnaround in fortunes with a 33% rise in annual pre-tax profits, reports the Financial Times.

Chief executive Carlos Criado-Perez said a strategy of deeply-discounted prices on selected lines had won 1m new customers.

Turnover in the year to March 31 rose 6.4% to 8.15bn, while pre-tax profits rose from 236.1m to 314.5m.

The FT says that before Mr Criado-Perez was appointed 18 months ago, it was questionable whether Safeway could survive as an independent retailer.

FREE NEWS UPDATE
CLICK HERE to receive FWis FREE new daily email newsletter to keep up-to-date with the latest on election news, foot-and-mouth and other farming-related stories

Farm e-Business Survey. Click here to enter and win 100 Amazon vouchers

    Read more on:
  • News

Safeway pre-tax profits up 33%

17 May 2001
Safeway pre-tax profits up 33%

By FWi staff

SUPERMARKET group Safeway has announced a turnaround in fortunes with a 33% rise in annual pre-tax profits, reports the Financial Times.

Chief executive Carlos Criado-Perez said a strategy of deeply-discounted prices on selected lines and won 1m new customers.

Turnover in the year to March 31 rose 6.4% to 8.15bn, while pre-tax profits rose from 236.1m to 314.5m.

The FT says that before Mr Criado-Perez was appointed 18 months ago, it was questionable whether Safeway could survive as an independent retailer.

FREE NEWS UPDATE
CLICK HERE to receive FWis FREE new daily email newsletter to keep up-to-date with the latest on election news, foot-and-mouth and other farming-related stories

Farm e-Business Survey. Click here to enter and win 100 Amazon vouchers

    Read more on:
  • News
blog comments powered by Disqus