Tesco enjoys strong second quarter as sales rise to £25.2bn
Tesco has continued its upward curve after revealing a 2.1% rise in sales for its second quarter.
The British retailer has seen group sales increase to £25.2bn from £24.4bn, a leap of 3.3% and another indication that its heading in the right direction following its troubles in 2014.
Other highlights from the report include a surge in pre-tax profit from £71mn to £562mn and particularly strong growth in its fresh food volume in the United Kingdom.
- Tesco joins The Innovation Gateway to share its sustainability progress
- Shell eyeing 45% sale of its stake in $1.4bn Dutch offshore windfarm projects
- Read October's issue of the Business Review Europe magazine
"We are continuing to make strong progress," said Chief Executive Dave Lewis. "Sales are up, profits are up, cash generation continues to strengthen and net debt levels are less than half what they were when we started our turnaround.
"All of this is possible because of the focus we have placed on serving shoppers a little better every day. Our offer is more competitive and more customers are shopping at Tesco."
The company was able to pay a dividend for the first time in three years, with each shareholder receiving 1p per share.
Like what you see! Signup for our weekly newsletter