Sainsbury’s posts increase in profits as market share rises
Sainsbury’s has reported an increase in profits in its half-year results as improved grocery sales drove growth in market share.
The supermarket giant said underlying profit before tax jumped 23% to £371m in the 28 weeks to September 18.
Compared with pre-pandemic levels, underlying profit surged 56%, which Sainsbury’s attributed to growth in grocery sales and cost reduction programmes.
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