Profits on the up at store operator

Profits at convenience store operator Nisa, which is being courted by Sainsbury’s over a possible takeover, were boosted last year as it reaped the benefit of reduced costs and new contracts.

Nisa yesterday reported a 17.8 per cent rise in adjusted earnings to £8.6 million for the year to 2 April, while on a pre-tax basis profit came in at £2.8m.