Sainsbury's posts uplift in underlyng profit

In the year to 10 March, total sales rose by 9% to £31.74 billion while group like-for-like sales, which include those of Argos, edged up 1.3%.

Mike Coupe, group chief executive of J Sainsbury, said: “We have accelerated the rate of change and innovation across the group and more customers are choosing to shop with us than ever before as a result. I am pleased to announce an increase in underlying profits before tax to £589 million, driven by delivery of Argos synergies, efficiency savings across the group and improving food margin trends.”

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Grocery sales rose by…