J. Sainsbury plc announced that Lady Susan Rice CBE will be joining the Board as a Non-Executive Director on June 1, 2013. Susan is currently Managing Director, Lloyds Banking Group Scotland and was the first woman to head a UK clearing bank as Chairman and Chief Executive of Lloyds TSB Scotland plc. Prior to this, Susan held several senior roles at NatWest Bancorp in the USA. Susan is a Non-Executive Director on the Court of the Bank of England, where she chairs the Audit & Risk Committee. She is also a Non-Executive Director of SSE plc (Scottish and Southern Energy), where she chairs the Remuneration Committee, and also of Big Society Capital.

J. Sainsbury Financial Services announced earnings results for the 52 weeks to March 16, 2013. For the period, the company reported underlying profit before tax of £22 million against £16 million a year ago. Profit before tax was £2 million against £16 million a year ago.

J. Sainsbury plc announced group earnings results for the 52 weeks to March 16, 2013. For the period, the company reported revenue of £23,303 million against £22,294 million a year ago. Operating profit was £887 million against £874 million a year ago. Profit before taxation was £788 million against £799 million a year ago. Underlying profit before tax was £756 million against £712 million a year ago. Profit for the financial year attributable to owners of the parent was £614 million or 32.1 pence diluted per share against £598 million or 31.5 pence diluted per share a year ago. Underlying profit after tax was £577 million against £526 million a year ago. Underlying diluted per share was 30.2 pence against 27.8 pence a year ago. Net cash generated from operating activities was £981 million against £1,067 million a year ago. Purchase of property, plant and equipment was £1,067 million against £1,227 million a year ago. Purchase of intangible assets was £26 million against £25 million a year ago. Total net debt as on March 16, 2013 was £2,162 million against £1,980 million as at March 17, 2012. Underlying operating profit was £829 million against £789 million a year ago. Underlying EBITDAR was £1,824 million against £1,740 million a year ago. Underlying finance income was £19 million against £18 million a year ago. Underlying profit before interest and tax was £867 million against £821 million a year ago. Cash generated from operations decreased by 1.8% due to an adverse movement in working capital. Net debt increase was £182 million. This was driven primarily by a small increase in working capital, an increase in corporation tax payments and lower sale and leaseback activity. This was offset by lower investments in estate development. Net capital expenditure was £875 million against £962 million a year ago. The company provides capital expenditure guidance for 2013/14. For the period, it expects core capital expenditure of around £1.1 billion, before any capital investment associated with Sainsbury's Bank, with core capital expenditure as a percentage of sales (including fuel, including VAT) to be similar to 2012/13. In the medium term, the group expects core capital expenditure as a percentage of sales (including fuel, including VAT) to fall to below 3.5%.