Sainsbury's reports 18.5% rise in profits

British supermarket Sainsbury’s today reiterated caution over second-half sales growth as it reported an 18.5% rise in profits for the first six months of the year.

The UK’s third biggest grocery chain posted underlying profits of £307m (€342m) after sales rose 5.7% on a like-for-like basis in the 28 weeks to October 3.