Justin King: recovery on track

Sainsbury's results maintain right direction

Sainsbury's has reported a slight rise in half-year profits.

The group revealed this morning that it made £118 million in the six months to October 8, a small increase from the £117m it registered at the same time last year.

Like-for-like sales, excluding petrol, were 2.1 per cent higher, said chief executive Justin King, who added that his plans to transform the chain’s fortunes are on the right track.

King has been implementing a recovery plan aimed at regaining market share, which has included widespread lowering of prices as well as the introduction of a new slogan, Try Something New Today, in the last six months.

He said: "We were clear last year that we needed to fix the basics of our offer for customers and we have made good steps forward.

"While the customer experience is much improved we still need to work on achieving consistency across all of our stores, and at an acceptable cost."

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