24th Apr 2026 08:16
J Sainsbury PLC - London-based grocer - Sainsbury's starts on Friday the share buyback programme worth up to GBP300 million that it announced with its annual results on Thursday. The buyback will be run by broker Shore Capital Stockbrokers Ltd and will be completed by the end of the current financial year on February 27, 2027. The first tranche is worth up to GBP200 million and will be completed by the mid-point of the financial year on September 11. All repurchased shares will be cancelled.
On Thursday, Sainsbury's said pretax profit rose 2.0% to GBP619 million in the 52 weeks that ended February 28 from GBP607 million the year before. Revenue, excluding VAT but including fuel, increased 2.7% to GBP33.65 billion from GBP32.77 billion. Looking ahead, Sainsbury noted it is in a "strong competitive position" after another year of good progress.
Current stock price: 346.80 pence, up 2.0% on Friday morning in London
12-month change: up 33%
By Christopher Ward, Alliance News reporter
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