Perviously, the troubled supermarket booked gross concession turnover as sales. But the change, caused by FRS5 (ANG), now means only the commission earned from sales can be included in turnover.
The news came today (Wednesday) as Sainsbury published its interim results for the six months to 9 October this year.
The results showed underlying profits before tax down to £131m compared to £366m the previous year. Total sales stood at £8.69bn against £9.69bn for the same period the previous year.
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Colchester, Essex, Essex, United Kingdom | Colchester Borough Council
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Opportunity to become a Business Owner Bookkeeper / Management Accountant Locations: Across the UK (South East and Midlands) including London, Birmingham, Leicester, Bristol, Oxford, Cheltenham, Bournemouth Salary: £15,000-£75,000 (whatever you earn) The Company: The ... more >
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