Asda saw its underlying operating profit increase by 7.6 per cent last year, new figures show.
The supermarket giant reported an increase in group revenues by 4.6 per cent to £22.8 billion in the year to 31 December 2012. and saw like-for-like sales - excluding petrol and VAT - rise by one per cent.
Pre-tax profit was up to £774.3 million from £767.8 million, and the Leeds-based retailer, which has more than 500 stores nationwide, increased its market share by 0.2 percentage points to 17.5 per cent.
An Asda spokesman said the external environment continued to be “challenging”, with low wage growth and persistent price inflation exerting downward pressure on disposable incomes.
But, he added: “We continue to invest in new opportunities and areas of growth in order to diversify our offering to customers.”
The Walmart-owned company opened 23 stores during 2012, and itsonline business also saw strong growth.
“We delivered against our core purpose of 'saving you money everyday' by strengthening our position as price leader,' the spokesman added.
'We also improved product and customer service supported by innovations such as the further development of 'Chosen By You' food range with an additional 1,500 new lines in the year.'
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