# UK supermarket Asda says 2023 underlying profit up 24%
Published: 2024-04-22
Category: Headlines
Category URL: https://business.express/category/headlines/
Meta Title: Asda reports 24% increase in 2023 profits
Meta Description: Asda, the UK's third largest supermarket, saw a 24% annual earnings growth in 2023, driven by a 7% rise in total sales. Learn more here.
URL: https://business.express/uk-supermarket-asda-says-2023-underlying-profit-up-24/

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LONDON (Reuters) – Asda, Britain’s third biggest supermarket group, reported a 24% rise in annual earnings on Monday that reflected a 7% rise in total sales.

Asda, owned by brothers Zuber and Mohsin Issa and private equity firm TDR Capital, said 2023 adjusted EBITDA after rent, its preferred profit measure, was 1.078 billion pounds ($1.33 billion) on total sales, excluding fuel, of 21.9 billion pounds.

($1 = 0.8076 pounds)

(Reporting by James Davey; Editing by Sachin Ravikumar)


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