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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. |