Sainsbury’s CEO Simon Roberts urged the U.K. government to avoid adding to business costs in its Oct. 28 Budget, warning that the grocer faces a difficult Christmas trading period, The Guardian reported.
Roberts called the market “pretty challenging” and said households were “finding it tough,” the newspaper reported. The Guardian also reported that food producers face rising costs and described Sainsbury’s as the U.K.’s second-largest supermarket.
Roberts urged ministers not to repeat earlier Budget decisions that raised business rates and employers’ national insurance contributions, according to The Guardian. He has also sought changes to business rates and measures to encourage hiring, as detailed in earlier EconoTimes coverage.
The appeal came alongside Sainsbury’s half-year results. The company said revenue for the 28 weeks ended Sept. 12 was £16.2 billion, up 4.1% from a year earlier. Grocery sales rose 2.9% to £13.2 billion, while underlying operating profit increased 3.6% to £525 million. The U.K. Budget is scheduled for Oct. 28.
