Iceland profits pegged back by investment and supply chain problems

The supermarket said price cuts, extra marketing and supply problems over Christmas contributed to falling profits.

Iceland saw profits dip last year (Rui Vieira/PA)

By Ravender Sembhy, Press Association City Editor

Profits at supermarket Iceland dipped last year after the firm invested in price cuts and was hit by supply chain issues over the critical Christmas trading period.

The group saw adjusted earnings slip 1.8% to £157.1 million in the year to March 31, while sales rose 8% to £3 billion.