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Tesco shines in home market, beats annual profit forecast

Reuters  |  LONDON 

By James DaveyLONDON (Reuters) - Tesco beat expectations with a 28 percent rise in full-year profit on Wednesday, helped by a strong end to the year in its home market, underlining the recovery of Britain's biggest retailer under Chief Executive Dave Lewis.The supermarket group, which is expanding to provide food to restaurants, bars and smaller rivals with a 4 billion pound ($5.7 billion) purchase of wholesaler Booker, made an operating profit of 1.644 billion pounds in the year to Feb. 24. That compared to Tesco's guidance of "at least" 1.575 billion pounds and 1.28 billion pounds made in ...

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First Published: Wed, April 11 2018. 12:50 IST
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