- Statutory accounts published for year to 31st December 2018
- Like for like sales (ex fuel and ex VAT) in the period 1 January 2018 to 31st December 2018 increased 1.6%
- Operating profit of £803.2m - a year-on-year increase of 9.2%
- Net cashflow from operating activities of £1,291.1m
Supermarket Asda has today published its annual Statutory Accounts for the financial year to 31st December 2018 through Companies House.
The accounts for Asda Group Limited, which includes the financial activities of all Asda stores, distribution centres and online operations including food, clothing, general merchandise and fuel, show that in the financial year from 1st January 2018 to 31st December 2018 the supermarket’s like for like sales excluding fuel and VAT increased by 1.6%, (compared to a 0.5% increase in 2017).
In the strategic report prefacing the accounts, it notes that growth has been driven through a continued focus on targeted price investments, further development in Own-Brand product quality and range and improved availability, particularly in fresh. Lowering prices across key customer-favourite lines to help mitigate the impact of food inflation secured Asda The Grocer’s G33 Price Award for the twenty-first consecutive year and the improvements in Own-Brand development were acknowledged with 26 awards at the Quality Food Awards – double the amount received in 2017.
Online sales grew ahead of the market in 2018 following developments to the website, mobile and tablet apps.
Last month Asda reported a 0.3% like for like sales decline for the first half of 2019 compared to the same period last year, noting the challenges facing shoppers in the current climate.
Asda Chief Financial Officer, Rob McWilliam, said: "The challenges faced in the market during 2018 have only intensified as we move through 2019 and we remain steadfast in our approach to win on price, deliver a consistent customer experience and drive growth where customers care."
A full copy of Asda Group Limited Statutory Accounts can be found at Companies House: https://beta.companieshouse.gov.uk/company/01396513/filing-history