Being seen to be green may be top of the agenda for the likes of Tesco, M&S and Sainsbury's, but Iceland will not "jump on the eco bandwagon", according to chief executive Malcolm Walker.

The focus was on quality and price, he said. "We were the first to launch our own label range free of GM ingredients in 1997. We led the way when it was unfashionable, but now everybody is shouting about green initiatives," he said. "We are doing things like making our refrigeration greener, but this is not big news. For us it's just about amazing quality and value."

Following a stakeholder payout of £300m in March 2007, Iceland has continued to grow, said Walker. Like-for-like sales are up 10%, and the chain is on target to deliver strong profits for the year ending March 2008,

The retailer now has 680 stores across the UK, following the disposal of about 20 underperforming stores this year. Walker said he now had full confidence in the portfolio and plans low-key growth combined with ongoing refurbishments. "We are opening about 10 new stores a year - just filling in the gaps. We are also refurbishing at a rate of 100 stores a year."

He ruled out a second foray into online grocery but said home delivery of goods purchased in-store would be a big focus.

Staff morale was also at an "all time high" thanks to pay rises and in-house competitions for cash and cars.

TNS Worldpanel figures for the 12 weeks to 7 October show Iceland's sales growth at 8% year-on-year, compared with grocery market growth of 5%.