Financial Performance
Between 1990 and 2010, Sainsbury's turnover increased from £6.9 billion to £21.4 billion, with a small dip in 2005, a year in which parts of the business were restructured. Profits before and after tax have been turbulent, with most years showing a pre-tax profit of £500–700 million and a profit for the year between £300–500 million, with 2005 and 2006 showing much reduced figures. 2005 saw exceptional costs of £100 million, and in 2006 Sainsbury's incurred "one-off operating costs" of £152 million, including £63 million to terminate the IT outsourcing contract with Accenture. Earnings per share in years other than 1994, 2005 and 2006 fell in the range 14p–33p. News reports on Wednesday 14 November 2012 reported that Sainsburys had performed well financially that year, reaching 6% profits at the start of the year 2012. Part of the success was due to the supermarket manufacturing its own-brand labels.
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