Asda has revealed its underlying earnings swelled by a quarter last year with growth in food and clothing sales. The UK’s third-biggest supermarket chain said its underlying earnings, before additional costs like tax and interest, rose by 24 per cent to £1.1 billion over 2023, compared with 2022.
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00:00Hello, my name is Greg Wright and I'm the Deputy Business Editor of the Yorkshire Post.
00:06Here are your business headlines for this morning.
00:09The Leeds-based supermarket chain Asda has revealed its underlying earnings increased
00:14by a quarter last year, with growth in food and clothing sales.
00:20The UK's third biggest supermarket chain said its underlying earnings before additional
00:25costs like tax and interest rose by 24% to £1.1bn over 2023 compared with 2022.
00:36It came as supermarket sales, excluding fuel, grew by 5.4% on a like-for-like basis, which
00:43excludes the impact of new stores opening during the year.
00:47Total sales, excluding fuel, hit nearly £22bn during the year as the chain said it had benefited
00:53from about 6 million customers now using its loyalty app to shop with the retailer.
00:58It's an update here from Asda revealing its underlying earnings increased by a quarter
01:03last year.
01:04My name's Greg Wright and I'm the Deputy Business Editor of the Yorkshire Post.