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Sainsbury's sees boost from Argos deal

Sainsbury's sees boost from Argos deal

Business
Sainsbury's says its latest half-year results have been boosted by its takeover of catalogue retailer Argos.Cost savings had lifted profits, while adding Argos stores to Sainsbury's outlets was "driving an increase in trading intensity", the retailer said.Sainsbury's, which is planning to merge with rival Asda, said half-year underlying profits rose 20% to £302m.However, when a host of exceptional costs are taken into account, profits nearly halved.The UK's second-largest supermarket said pre-tax profits for the 28 weeks to 22 September were £132m, compared with £220m a year earlier.The profit figure was pushed down by costs related to restructuring store management teams, the Argos integration and preparation for the Asda deal, which is...