UK: Tesco posts 14.7% rise in full-year profit
UK supermarket company Tesco has posted a 14.7% increase in annual profit and said it was winning customers from weaker rivals even as its core UK market slows. The company, which enjoys a near 26% share of grocery spending in the UK, reported underlying pre-tax profit of £1.40bn (US$2.17bn) for the year to 22 February, compared to £1.22bn a year earlier.
Get full access to all content, just $1 for 30 days
A Message From The Editor
just-food gives you the widest food market coverage.
Paid just-food members have unlimited access to all our exclusive content - including 17 years of archives.
It’s our best ever membership offer – just for you.
Dean Best, editor of just-food
- Does Kraft Heinz want to swallow Unilever whole?
- US food next wave on display at Winter Fancy Food
- Focus: Nestle CEO plan to balance sales, earnings
- Comment: Meal kits in US - don't believe the hype
- Wessanen eyes growth in "resurgent" organic market
- Kraft Heinz pulls Unilever bid
- General Mills issues profit warning
- Kerry operating earnings strengthen on slow sales
- Kerry Group staff in Ireland suspend strike action
- Kerry's Scanlon to replace McCarthy as CEO