Saturday May 30, 2020

Tesco full-year operating profit beats estimates

The UK supermarket giant has posted an operating profit of £944 million

13th April, 2016
Tesco has reported an operating profit of £944 million Pic: Getty

Adjusted operating profit rose 1.1 per cent to £944 million (€1.2 billion), the Cheshunt-based retailer said. That compares with the £936 million median estimate of 17 analysts.

“We have regained competitiveness in the UK with significantly better service, a simpler range, record levels of availability and lower and more stable prices,” chief executive Dave Lewis said in the statement. “Our balance sheet is stronger and we are making good progress in rebuilding trust in Tesco and our...

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