123% profit rise for Sainsbury's

Resurgent British supermarket Sainsbury’s said its recovery was on track today as it posted a 123% rise in half-year profits.

The company said its overcame a highly competitive market after like-for-like sales excluding fuel grew by 6.2% during the six months to October 7, boosting pre-tax profits to £194m (€286.7m) during the period.