Sainsbury's posts pre-tax profits of £267m

British supermarket giant Sainsbury’s said its recovery was on track today as it posted pre-tax profits of £267m (€392m) – up 12% from last year.

The retailer, which has posted five successive quarters of sales growth, said total revenues were up 5.8%, while like-for-like sales increased 3.7% in the year to March 25.