Sainsbury’s has more than doubled its profits as the supermarket recovers from coronavirus costs.
The company reported underlying profit before tax of £730m for the year to March, up from £357m in 2020-21.
The supermarket said its cost-cutting plan has enabled it to raise grocery prices at a lower level than its competitors.
Sainsbury’s record profits come as research suggests the average grocery bill could rise by £271 this year as prices continue to rise.
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