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Hot sales for frozen retailer: Iceland volume 1.56 billion [pounds sterling].

All they sell is frozen foods, but sales are really hot at Iceland, the UK frozen food retailer, which has found a new lease on life after abandoning an attempt to go beyond frozens and position itself as a convenience store chain.

For the year ended March 30, 2007, Iceland saw overall

sales increase by 5.7% to 1.56 billion [pounds sterling], with like-for-like sales ahead by 14.5%. The chain, which has 650 outlets, was acquired two years ago by Icelandic buyout specialists Baugur, and split off from the Big Food group.

"The company performed very strongly in the year," said chief executive and chairman Malcolm Walker, who was forced out in 2001 but returned in 2005. "The growth of the home delivery service has been a particular success, with sales growth of 29%," he added, noting that home delivery now accounted for almost 13% of all sales.

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