Iceland reveals online plans as sales and profits rise

 
Suzie Neuwirth

SUPERMARKET chain Iceland today unveiled an increase in sales and profit for the year and announced its plans to expand into the lucrative online market.

The firm’s sales rose one per cent to £2.64bn, while EBITDA rose 0.6 per cent to £226.3m.

Britain’s online food market is set to double in value over the next five years to £11bn. Rivals Tesco, Asda and Sainsbury’s all have established online offerings, while Morrisons has announced plans to launch an online business with Ocado.