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03/10/2006
Tesco announces record profits
Leading UK supermarket chain Tesco has announced a rise in profits to almost £1.1 billion in the six months to August 26.
The figure represents an increase of 10.3% on the same period last year.
The supermarket chain reported an increase in overall sales of 12.7%, while there was a 12.6% increase in non-food sales.
Tesco said that one-fifth of its UK sales were now non-food products.
Sales of electronic products increased by 36%, while clothing sales also increased by 19%.
Environmental campaigners Friends of the Earth have called on the government to halt Tesco's domination of the market.
The chain now has an estimated 30% of the grocery market and the campaign group said that this was affecting small shops and farmers.
FOE spokesperson Vicki Hird said: "Tesco's booming profits are rooted in rock-bottom prices to farmers and a wholesale takeover of the high street.
"Ministers and competition authorities must put the brakes on the Tesco juggernaut and take action to protect our small shops, farmers and the environment."
(KMcA/EF)
The figure represents an increase of 10.3% on the same period last year.
The supermarket chain reported an increase in overall sales of 12.7%, while there was a 12.6% increase in non-food sales.
Tesco said that one-fifth of its UK sales were now non-food products.
Sales of electronic products increased by 36%, while clothing sales also increased by 19%.
Environmental campaigners Friends of the Earth have called on the government to halt Tesco's domination of the market.
The chain now has an estimated 30% of the grocery market and the campaign group said that this was affecting small shops and farmers.
FOE spokesperson Vicki Hird said: "Tesco's booming profits are rooted in rock-bottom prices to farmers and a wholesale takeover of the high street.
"Ministers and competition authorities must put the brakes on the Tesco juggernaut and take action to protect our small shops, farmers and the environment."
(KMcA/EF)
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Tesco profits top £2 billion
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Tesco reports profits rise
Britain’s leading supermarket group, Tesco, has reported an 18.7% rise in profits in their first-half sales figures. The supermarket giant saw pre-tax profits rise to £908 million for the 24 weeks to August 13, beating average forecasts of £886 million. The group also reported a rise in sales of 14.1% to £18.
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Tesco Reports Strong Festive Sales
Retail giant Tesco enjoyed a three-year sales high over Christmas 2009. Sales during the six weeks proceeding 9 January - excluding new stores, VAT and fuel - grew by 4.9%. Tesco said double club card points could be attributed to 0.7% of this year-on-year increase.
Tesco Reports Strong Festive Sales
Retail giant Tesco enjoyed a three-year sales high over Christmas 2009. Sales during the six weeks proceeding 9 January - excluding new stores, VAT and fuel - grew by 4.9%. Tesco said double club card points could be attributed to 0.7% of this year-on-year increase.
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