J Sainsbury plc Announces Sales Results for the Quarter of Fifteen Weeks Ended January 6, 2018; Provides Earnings Guidance for the Year 2017-2018
While market conditions remain challenging and the company is cautious about the consumer environment in the year ahead, the company now expect to achieve £80 million -£85 million of EBITDA (£72 million-£77 million EBIT) synergies from the Argos acquisition by March 2018, ahead of their previous guidance of £65 million EBITDA (£58 million EBIT). As a consequence they expect 2017/18 underlying profit to be moderately ahead of published consensus.