Dubbed 'The Outperformer' by one set of City analysts, Sainsbury's announced annual profits that beat forecasts last week and the UK retailer remains confident in the face of increased competition. The UK grocery industry was in the spotlight last week, with the country's Government formally announcing its introduce a watchdog to monitor the sector. Elsewhere, CSM, a supplier of bakery products to retailers in North America and Europe, said it would exit the sector and focus on bioplastics.