Sainsbury Sees 27% Organic Increase

"Nov. 14 (Bloomberg) -- J Sainsbury Plc, the U.K.'s third- largest supermarket chain, said first-half profit rose 27 percent on increased sales of organic food. The retailer will also start a property venture with Land Securities Group Plc.

Net income climbed to 161 million pounds ($334.5 million), or 9.1 pence a share, in the six months ended Oct. 6 from 127 million pounds, or 7.5 pence, a year earlier, the London-based company said today in a Regulatory News Service statement. That beat the 157.6 million-pound median estimate of five analysts surveyed by Bloomberg. Sales gained 2.6 percent to 9.25 billion pounds."

Read the article