| Updated:
Profits and market share increase at Sainsbury’s
Supermarket J Sainsbury this morning beat expectations by reporting pre-tax profit of £373m over the half year to September, up 5.4 per cent year on year.
The supermarket chain’s market share ticked up to 16.7 per cent, the highest for almost a decade, following 31 consecutive quarters of like for like sales growth.
J Sainsbury is continuing to outshine rival supermarket Tesco, which last month posted a 12.4 per cent fall in first half UK trading profit. Asda is due to update on its third quarter tomorrow.
Total sales including fuel were up four per cent to £13.37bn over the period, the group said this morning.