Walmart

UK supermarket group Asda said on Friday it returned to a pretax profit in 2023 even though it lost market share to rivals in that period.

Asda has reported that its underlying sales rose 1.4% in the first quarter, marking a slowdown from a growth of 2.2% in the previous quarter.

The UK’s third largest supermarket group Asda has refinanced over £3.2 billion of debt, pushing most of its maturities into the next decade.

Asda reported a 24% rise in annual earnings that reflect a 7.1% rise in total sales from 2023, and added that it had cut its debt.