Common Size Income Statement

Sainsbury’s (%)

Morrisons (%)

Tesco (%)

2016

2017

2018

2016

2017

2018

2016

2017

2018

Revenue

100

100

100

100

100

100

100

100

100

Cost of sales

93.8

93.8

93.4

96.2

96.3

96.3

94.8

94.6

94.1

Gross Profit

6.2

6.2

6.6

3.8

3.7

3.7

5.2

5.4

5.9

Operating Expenses^a

3.6

4.6

5.0

2.9

1.5

1.7

3.4

3.1

3.1

Operating Income

2.6

1.6

1.6

0.9

2.2

2.0

1.8

2.3

2.8

Finance Costs

0.7

0.5

0.5

0.7

1.0

0.5

1.2

1.1

1.0

Other Income^b

0.4

0.8

0.3

1.1

0.8

0.7

0.0

0.1

0.2

Income before tax

2.3

1.9

1.4

1.3

2.0

2.2

0.6

1.3

2.0

Taxation

0.3

0.5

0.4

0.0

0.1

0.4

0.0

0.3

0.5

Net Income

2.0

1.4

1.1

1.3

1.9

1.8

0.6

1.0

1.5