UK supermarket Tesco will reveal a record £2bn (US$3.74bn) profit next week, according to the London Evening Standard newspaper.

City analysts said the results are likely to be “fantastic”, with pre-tax profits for the year to 28 February rising 19% from £1.708bn to £2.04bn. Sales rose from £33.6bn to £34.7bn, the paper said.

The results are due on Tuesday, it said.