Asda, the Walmart-owned UK retailer, has revealed that like-for-like sales increased by 6 per cent for the second quarter of 2008, compared with a 5 per cent rise in the first quarter.

The group attributed the results to a 20 per cent increase in sales of its Smartprice and Extra budget ranges, both of which are proving popular with consumers who remain wary about high spending in the current global economic climate.

'Today's figures demonstrate that our strategy is continuing to deliver results,' said Judith McKenna, chief financial officer at Asda. 'However, we won't be complacent, we've got tough conditions ahead of us and must continue to focus on driving costs out of our business so that we can continue to offer customers value for their hard-earned money.'

The group has also announced that up to 18,000 products will be on promotion in its stores across the UK this week.

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