Sainsbury said that a plans to buy the IT services intermediary Swan Infrastructure would reduce net costs by £25m starting from its 2004 financial year.
Sainsbury group chief executive, Sir Peter Davis, said the move would simplify the financing structure of its extended outsourcing contract with Accenture.
Sir Peter added: “The net reduction in costs will provide Sainsbury’s with additional resources to develop our customer proposition, by investing in quality and innovation and improving further our competitive offer, as we move towards trading our business harder from 2004.”
Sainsbury will pay £553m for the IT assets, which will be depreciated in accordance with its accounting policies.
Sainsbury group chief executive, Sir Peter Davis, said the move would simplify the financing structure of its extended outsourcing contract with Accenture.
Sir Peter added: “The net reduction in costs will provide Sainsbury’s with additional resources to develop our customer proposition, by investing in quality and innovation and improving further our competitive offer, as we move towards trading our business harder from 2004.”
Sainsbury will pay £553m for the IT assets, which will be depreciated in accordance with its accounting policies.
No comments yet