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Sainsbury's chief to reap rewards as profits soar

Sainsbury's

Sainsbury's is set for its thirteenth successive quarter of like-for-like growth, according to reports from the Sunday Telegraph.

The retailer will report its full-year results this Wednesday, and chief executive Justin King will be revealing a 25% rise in pre-tax profits, says the Telegraph.

King will be well rewarded for his success at Sainsbury's, and will be collecting a bonus worth £6.5m.

The imminent figures will mean Sainsbury's has already thrashed the targets laid out in King's Making Sainsbury's Great Again strategy launched in October 2004, which included boosting sales by £2.5bn over three years.

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