Supermarkets
Asda profits soar 24% to £1.1bn amid sales boost in FY23
For the year ending 31 December 2023, like-for-like sales (excluding fuel) rose by 5.4%, which Asda attributed to its ‘ongoing investment in value’
Asda has seen adjusted EBITDA after rent soar by 24% to £1.078bn in FY23, largely driven by like-for-like sales growth and the impact of strategic acquisitions, after the group welcomed four consecutive quarters of growth.For the year ending 31 December 2023, like-for-like sales (excluding fuel) rose by 5.4%, which Asda attributed to its “ongoing investment in value”. Total sales, excluding fuel, increased by 7.1% to £21.9bn.
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