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Tesco achieves £3bn annual profit Tesco achieves £3bn annual profit
(10 minutes later)
The supermarket chain Tesco has reported underlying annual pre-tax profits of £3.13bn, an improvement of 10% on the previous year.The supermarket chain Tesco has reported underlying annual pre-tax profits of £3.13bn, an improvement of 10% on the previous year.
Its sales topped £1bn a week for the first time with group revenue coming in at £54.3bn.Its sales topped £1bn a week for the first time with group revenue coming in at £54.3bn.
The boss of Tesco said that he was confident the retailer "will continue to make good progress even in the current global economic environment".The boss of Tesco said that he was confident the retailer "will continue to make good progress even in the current global economic environment".
The profits were the highest on record for a UK retailer.The profits were the highest on record for a UK retailer.
Tesco said in its statement that in the UK it had "coped well with recovering competitors and a difficult non-food market" and had managed to increase both the number of customers coming into its stores and the average amount they were spending.
The number of plastic bags used during the year fell by 50% while the retailer said that 25% of its transactions went through its self-service checkouts.