123% profit rise for Sainsbury's
Resurgent British supermarket Sainsbury’s said its recovery was on track today as it posted a 123% rise in half-year profits.
The company said its overcame a highly competitive market after like-for-like sales excluding fuel grew by 6.2% during the six months to October 7, boosting pre-tax profits to £194m (€286.7m) during the period.
The chain has now delivered £1.3bn (€1.9bn) additional sales after 18 months as part of its Making Sainsbury’s Great Again programme, more than half its planned £2.5bn (€3.7bn) target.
