Iceland profits up slightly at £150.5m

Supermarket chain Iceland has increased profits slightly, with the grocery market described as "exceptionally challenging" over the past year.

The Deeside-based company saw earnings rise by 0.2% to £150.5m in 2015/16.

But total sales fell by 2.7%, although it was an improvement on the 4.4% drop the previous year.

A spokesman blamed "intense competition, food price deflation and changing consumer shopping patterns".