Sainsbury’s suffers 9% fall in half-year profits

Sainsbury's has reported a 9% dip in half-year profits to £251m despite a 17% rise in group sales.

The group said losses at Argos, which it bought last year and has been integrating into its supermarket offering, higher wages and investment in price at its stores took their toll on its underlying performance in the six months to 23 September.

The group reported a 1.6% rise in like-for-like sales, excluding fuel.

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