UK: Sainsbury reveals H1 decline in profits, but claims future is bright
The UK's second largest supermarket chain, Sainsbury , has today (22 November) revealed a 16.9% decline in H1 profits to £300m, excluding goodwill, amortization and exceptional items. Highlights of the results can be found, however, in the supermarket division' sales, which are up 2.4% from 1999, and the fact that group sales rose 7.7% to reach £9.75bn.
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