Asda Q1 sales rise

Asda beat its targets to post an 8.4 per cent rise in like-for-like sales for the first quarter.

The Leeds-based supermarket reported its 12th successive quarterly growth figures and said its profits figures had risen, although it did not disclose them.

Asda claims to have considerable custom from its rivals, reporting the second-largest growth behind Morrisons.

Parent company Wal-Mart reported an even result, making $3 billion (£2 billion) in the past three months, which matches its performance a year ago.

Asda chief financial officer Judith McKenna said: “These are difficult times for many of our customers, so delivering great value has never been more important."

Asda currently shares around 17 per cent of the market while the UK’s largest supermarket, Tesco, holds 31 per cent.