Pre-tax profits at Sainsbury’s have jumped to £371m for the 28 weeks ended September 18.

Higher grocery sales thanks to more people eating at home saw revenues rise 23% compared to the first half of 20/21.

The group expects pre-tax profits to be at least £660m in the financial year to March 2022.

Chris Daly, CEO of the Chartered Institute of Marketing,“successfully overcome supply chain issues in the short term at least.” He added: “The supermarket giant’s public advocacy and support of global efforts to combat climate change has been well received, especially in the build up to COP26.”

“However, with 63 per cent of consumers believing that many brands only get involved with sustainability for commercial reasons – as opposed to ethical ones – Sainsbury’s must be mindful to avoid accusations of ‘corporate grandstanding’ or greenwashing. 

“If Sainsbury’s is to continue winning the hearts and minds of consumers, it must ensure its commitments are perceived as authentic and carefully tow the line between intentions and tangible actions.”

Sainsbury’s has proposed an interim dividend of 3.2p.

“Sainsbury posted positive results today with the company showing growth in the majority of sectors while continuing to focus on food items and improving competitiveness,” said Walid Koudmani, market analyst at financial brokerage XTB.

“While grocery sales increased and despite a strong growth in digital sales, general merchandise sales disappointed as the impact of lockdown was clearly felt in this sector. Overall, today’s report could reassure investors as it shows the strength and resilience of the company while highlighting the importance of having multiple strategies to contend with rising costs, supply shortages and labour issues.”

The average cost of a property has jumped almost £30,000 since the start of the pandemic.

New data from Nationwide has found property prices to hit record highs and the cost of an average home now costs over £250,000 for the first time.

Robert Gardner, Nationwide’s chief economist, commented: “Combined with a lack of homes on the market, this helps to explain why price growth has remained robust.”

“Even if wider economic conditions continue to improve, rising interest rates may exert a cooling influence on the market, though the impact on existing borrowers is likely to be modest.”

“For example, on the average mortgage, an interest rate increase of 0.4 per cent would raise monthly payments by £28 to £625 (or around £335 extra per year), though a rise of bank rate to 1 per cent would see typical payments go up by a more substantial £64 to £660 (more than £760 per year approximately).”

“It’s important to note that a small proportion of households already have a relatively high debt service burden,” he added.

Morgan Sindall has said that it expects a strong full-year performance thanks to the full lineup of work it has scheduled for the rest of the year.

“Trading remains strong across the Group and our high-quality and growing workload leaves us well set for the future,” commented the chief executive, John Morgan.

“Inflation in the supply chain remains manageable and based upon our current performance and the visibility we have for the rest of the year, we expect to deliver a full year performance which is slightly above our previous expectations.”

The group expects a full-year operating margin of approximately 3% and the average daily net cash is expected to be around £290m for the full year.

Trainline has reported a 151% increase in revenues for the first six months of FY22.

Net ticket sales jumped 79% to £1bn whilst revenues reached £78m. This is the strongest results since the pandemic, suggesting a good recovery for the group.

Last year, the group had a loss of £16m compared to this year’s profits of £15m.

Trainline’s chief executive Jody Ford said: “Our consumer business returned to growth in August versus pre-Covid levels, with train travellers increasingly opting for digital tickets.”

“Encouragingly our customers are now using Trainline even more frequently, drawn to new features such as our new 2-click commuter experience and digital railcards. Beyond the UK, we see significant growth opportunity in Europe. With new entrant train companies driving more journey options and lower prices in our key markets, customers are increasingly turning to Trainline to help them easily find the best fares and support them as they travel.”