FRESH evidence of a consumer led spending boom in Britain came yesterday from a big increase in both sales and profits at catalogue retailer, Argos. The company made £31.8 million before tax in the six months to June 15th, a 45 per cent rise compared with £21.8 million in the corresponding period in the previous year, and ahead of City forecasts.

Sales rose 18.2 per cent to £561 million, up from £475 million, in line with the company's forecast at its annual meeting in May.