Sainsbury’s announce profits despite economic crisis

By Christopher Hall

The UK’s third largest supermarket, Sainsbury’s, has racked up half-year profits of 13.3% leading up to October 4th.

In the recent economic climate, the chain has announced underlying pre-tax profits of £272 million.

Sainsbury’s has now recorded 15 quarters of consecutive like-for-like sales growth, with customer numbers appearing to grow – with about 18 million customers a week.

The supermarket Chief Executive Justin King said the supermarket should continue to be successful and profits stay on the rise.

“Our universal customer appeal has been fundamental to our sustained performance,” said King.

Sainsbury’s was predicted to suffer from the current economical downturn due to its association with higher-price and higher quality goods, than many of its main competitors.