Britain’s supermarket giant Tesco today revealed that its first-half profits have soared by more than a quarter
Pre-tax profit for the 26 weeks to 29 August was £551m, 28.7% up on 2019, thanks to customers buying more food during the pandemic.
It is Tesco’s first set of results under its new chief executive, Ken Murphy, who started last week.
“I’m really happy with the strategy and direction of the company,” Murphy said. “My job is to maintain momentum in the business and deliver a fantastic Christmas.”
Tesco is in the process of selling its businesses in Thailand, Malaysia and Poland, but Mr Murphy said there was currently “no plan for further retrenchment”.