UK's third-largest grocer Sainsbury, which on Wednesday reported an 8 per cent rise in underlying interim profit, is going to get aggressive on its plans to expand out of its home market.

Development director Darren Shapland said the retailer would look at two or three overseas developing markets, including India, though it has not committed any resources yet. China and Latin America are other possible locations for expansion.

Shapland revealed that the company could look to acquisitions or joint ventures to fuel its overseas ambitions. A six-member team from Sainsbury is reportedly already in China since the last three months, studying the local retail market for consumer habits and preferences.

Sainsbury's pre-tax profit increased from £342m to £466m in the six months to October 2, including £106m of profit from the sale of properties.

However, chief executive Justin King admitted that the company had missed the target of opening about 75 to 100 convenience stores in the UK and would instead open only about 62 stores this year.

Sainsbury last year raised £432m from shareholders to increase its store openings. The company is now looking to expand its total space by 15 per cent in the two years to March