Retail leisure conglomerate CI Traders' full-year pre-tax profit to January 28 rose 3.4% to £15.2m, on turnover up 11% to £326.1m.

The group, which acquired two Safeway stores in Jersey and Guernsey from Morrisons in April last year, added that although the stores had a very difficult summer, trading was now recovering.

Tom H Scott, CI Traders executive chairman, added: "We remain committed to Safeway operating as a distinctive part of the retail sector in the Islands."