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.
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