Asda's third-quarter operating profit has reportedly fallen marginally below the levels of a year ago as the supermarket chain continued to push down prices.

Like-for-like growth was in the low-single digits for the three months to 30 September, but total sales were “market leading” according to reports in The Times.

“We'd already planned to invest more heavily in the third quarter this year than the last,” an Asda spokesman told The Times. “Our profit remains ahead of plan for the year, as do our sales.”

Meanwhile, Asda is co-operating with the Office of Fair Trading's long-running investigation into dairy price fixing, according to reports in the Daily Telegraph. In return for its co-operation, Asda could receive a significant reduction in any possible fine, the reports suggest.