The company said pre-tax profits totalled £7.5m for the 24 weeks to 18 May, following a £3.8m loss last year, thanks to its £216m online tie-up with
Gross sales rose 15.6 per cent to £442.4m, down from 18 per cent growth in the first quarter.
Steiner attributed the slowdown to "cautious consumer spending" and lower prices in the sector: "The pricing action is hurting the profitability and sales of all grocery retailers.
"We have continued to invest in our pricing to create a better proposition to customers...that has cost us a few millions of pounds in terms of profitability," he said.
Andover will be about a third of the size of its two other warehouses and
Jefferies analysts yesterday raised fears over the
The contract has an early termination provision for 2017 but Steiner said "currently nobody has announced its intention to use that".
THE DEBATE: Page 17 .
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