Wednesday, 11 November 2009

'Strong sales' boost Sainsbury's

Link to the article: BBC News

Sainsbury's has seen its latest half-year profits rise by one-third, buoyed by an increase in sales.

The supermarket group's pre-tax profit in the six months to 3 October totalled £342m, up 32.6% from £258m a year ago.

Its like-for-like sales excluding fuel, which strips out the impact of new store openings, rose 5.7%.

It said it was a strong performance given the economic climate, but trading conditions could be even tougher in the second half of the financial year.