Leeds-based supermarket group Asda said its 2025 sales, excluding fuel, fell 3.3% to £21 billion compared with the prior year.

Asda also reported that its adjusted earnings before interest, taxes, depreciation and amortization (EBITDA) after rent fell 33.1% to £764 million.

On fuel supplies, Asda confimed that all its forecourts are receiving their normal fuel deliveries, and sites are operating as usual.

Asda is owned 67.5% by TDR Capital, 22.5% by Mohsin Issa, and 10% by Walmart Inc.

Asda executive chairman Allan Leighton said: “As we enter the second year of our turnaround, we have an improved customer offer, stable core systems, a strengthened balance sheet and a strong leadership team to deliver our Formula for Growth.

“Our progress in key areas like price, availability, and customer satisfaction is edging forwards, reflected in positive like-for-like sales growth in our stores for the last two months.

“At the same time Asda is far more than just a supermarket, with almost half of our total revenues last year coming from the wider group, which includes George, Express, pharmacy, optical, online and fuel. George and pharmacy outperformed their respective markets last year, demonstrating the breadth of our offer.”

Asda chief financial officer Michael Gleeson said: “As we continued to make progress against our strategy, disciplined cash management meant we closed the year in a solid financial position, with more than £1.3bn of cash on the balance sheet and total liquidity of £2.1bn.

“Our operational performance continues to stabilise, and we have seen sales momentum build through the first quarter.”