Tesco reveals slightly higher profits amid strong performance – London Business News | Londonlovesbusiness.com

Tesco has revealed higher full-year profits than expected due to customer buying more fTesco reveals slightly higher profits amid strong performanceresh and premium foods.

In the 26 weeks to 24 August Tesco said sales rose by 4% to £31.5 billion and as inflation has eased the supermarket chain was abled to lower prices on their everyday grocery lines.

In the first half of the year Tesco had an adjusted operating profit of £1.6 billion which is 16% higher compared to the same period in 2023.

Chief executive Ken Murphy said, “We’ve been working really hard to offer our customers the best possible value, quality, and service and they are shopping more at Tesco as a result.

“We are in good shape, with volume growth delivering strong financial performance.”