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Underlying profit before tax for the first half of the year came in at £118.2 million - 2.7 per cent lower than during the same period in 2008.
However, this was still greater than analysts had expected and shares in the FTSE 100-listed firm rose as a result, climbing 31p to 1,321p in mid-morning trading.
The business also owns the Costa chain of coffee shops and it was the performance of this aspect of its operations that helped boost its results, as sales climbed 21 per cent and operating profit before exceptions climbed 73 per cent.
Alan Parker, chief executive of the company, stated: "We remain confident about the outturn for the year, subject to any marked deterioration in the economic environment."
He added that progress made during the first half had been "encouraging" given the tough trading conditions.
