The UK’s largest supermarket chain has reported a modest but steady sales increase of 2% over the past half-year, reaching £33.8 billion, with online trade contributing to the growth. Despite persistent geopolitical pressures, the company has maintained consumer spending resilience, prompting it to raise its annual profit outlook. Underlying profit climbed 6.5% to £1.8 billion, reflecting stronger-than-expected financial performance. The update suggests cautious optimism amid economic uncertainty.
Sales rise 2% to £33.8bn in the past six months, helped by strong trade onlineBusiness live – latest updatesTesco has raised its annual profit forecast as the supermarket group said consumer confidence has remained relatively resilient this year despite ongoing geopolitical tensions “creating uncertainty”.The UK’s biggest grocer said sales rose just 2% to £33.8bn in the first six months of its financial year but underlying profit was up 6.5% to £1.8bn. Continue reading...
