Somerfield is losing patience with the takeover saga

The Bristol-based supermarket said it wanted "a prompt conclusion" to a bid battle that has overshadowed its performance over the past eight months.

The firm reported a 1.8% drop in like-for-like sales in the sixteen weeks to 20 August.

This was blamed on weak sales at its budget stores division Kwik Save.

'Challenging conditions'

A consortium comprising of property tycoon Robert Tchenguiz, private equity group Apax and Barclays Capital is battling for control of Somerfield against property group London & Regional and Japanese bank Nomura.

But neither side has yet tabled a formal bid.

Despite challenging trading conditions, the board is satisfied with the group's progress Somerfield See Somerfield's share price

This is despite an announcement two months ago from Somerfield saying talks were at an advanced stage.

With talks still dragging on, shareholders fear that the takeover rivals may try to land the supermarket group on the cheap with a cut-price offer.

Somerfield, which owns about 1,300 stores in the UK, is currently valued at about �1.13bn ($2bn).

Despite the dip in like-for-like sales, Somerfield said total sales in its first quarter were 17% higher on the year, thanks to acquisitions including 115 stores it bought from supermarket Morrisons.

However, sales were down 5.7% at its struggling Kwik Save division.

"Despite challenging trading conditions, the board is satisfied with the group's progress," Somerfield said.