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.

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.

Chief executive Justin King said: “We have made good progress during the year and we are on track in our Making Sainsbury’s Great Again plan.”

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