Asda posted a 1.9% rise in pre-tax profits for 2011, according to account filed at Companies House.
Profits for the Walmart-owned supermarket edged up from £455.8m in 2010 to £464.4m last year, the accounts show.
Sales, meanwhile, grew from £20.5bn to £21.8bn in 2011, a rise of 6.3%.
Asda’s 147 converted Netto stores suffered an operating loss of £31.4m in 2011. But in its directors report, Asda said the figure “reflected the impact of planned first-year integration and store conversion”, adding that the stores had traded “ahead of expectations”.
Overall, the converted ex-Netto stores generated sales of £416m.
Like-for-like sales in 2011 grew 0.5%, excluding petrol and VAT. Asda’s market share increased by 0.4% to 17.3% for the 52 weeks to 25 December 2011, according to Kantar Worldpanel
Asda said operational highlights of the year included its work with Leiths to improve the quality of its Extra Special own-label range, and the performance of its online platforms, which Asda said saw “double-digit growth across grocery, general merchandise and clothing”.