Sainsbury’s posted a rise in profits and sales for the 28 weeks to October 26 – its first results since Delta Two’s bid for the grocer collapsed last week.
Sainsbury’s chief executive Justin King said: “Everyone has been focused on serving customers better despite the potential distraction of corporate activity and these results are a credit to the hard work and commitment of our 150,000 colleagues.”
Sainsbury’s underlying pre-tax profits jumped to£232 million for the six months to October 6, compared with£194 million for the same period last year. City analysts had forecasted pre-tax profits to come in at£231 million.
The third largest supermarket group registered a 4.7 per cent uplift in total sales to£9.9 billion on like-for-likes up 4 per cent, excluding petrol.
Sainsbury's reported a 5.1 per cent rise in like-for-likes for the first quarter of the year, which slowed to 3 per cent in the 16 weeks to October 6.
King warned of “tighter constraints on present consumer spending”, but said the grocer’s Christmas offer was strong.
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