Profits soar at UK retailer Sainsbury's

Sainsbury’s today posted an 8% rise in half-year profits to £332m (€384m) after the UK’s third biggest supermarket chain boasted record customer numbers.

The profits figure, which covers the 28 weeks to October 2 and excludes the impact of property disposals, was slightly ahead of City expectations.

Chief executive Justin King said: “Customer numbers are now at an all-time high of over 20 million transactions every week, which is up one million on last year, a clear indication of our growing universal customer appeal.”