Key facts
- Sainsbury's CEO Simon Roberts urged the government to avoid repeating previous budget tax increases.
- Roberts called for reforms to business rates and support for hiring and farming investments.
- Sainsbury's reported total revenues of £16.2 billion for the 28 weeks to September 12.
- Underlying operating profit for the half-year was £525 million.
- Sainsbury's is on track to deliver an underlying operating profit of between £1.025 billion and £1.065 billion for the year.
- Sainsbury's agreed to sell Argos for at least £120 million.
Sainsbury's CEO Simon Roberts has urged the UK government to avoid significant increases in business taxes and labor costs in the upcoming autumn Budget. Roberts, who recently met with ministers at Downing Street, also called for reforms to business rates and support for hiring and farming investments. He believes the current government is listening to business concerns. Sainsbury's reported total revenues increased by 4.1% to £16.2 billion for the 28 weeks to September 12, with underlying operating profit rising to £525 million. The company has improved its full-year profit outlook to between £1.025 billion and £1.065 billion. The retailer also agreed to sell Argos for at least £120 million. Reports also emerged that Sainsbury's had previously held merger talks with Morrisons.