Tesco profits rocket by nearly 30 per cent as online deliveries double
National supermarket chain Tesco has announced that its profits for the first half of the year have risen by more than a quarter.
The supermarket saw profit before tax in the period jump by 28.7 per cent compared to the same period last year, rising from £428m to £551m.
It said that this could be partially attributed to its online delivery service, which has more than doubled since the beginning of the pandemic.
The supermarket saw food sales in the UK rise by 9.2 per cent, while clothing proved less popular with a 17.2 per cent dip.
Revenue for the period also climbed, hitting £28.7bn, up by 0.7 per cent from 2019’s £28.5bn.
Ken Murphy, chief executive of Tesco, commented: “The first half of this year has tested our business in ways we had never imagined, and our colleagues have risen brilliantly to every challenge, acting in the best interests of our customers and local communities throughout.
“I would like to thank all our colleagues for their amazing contribution and I am delighted and proud to be part of such an incredible team.
“We are absolutely committed to continuing to invest in value for customers and safety for all in these uncertain times.
“Tesco is a great business with many strategic advantages. I’m excited by the range of opportunities we have to use those advantages to create further value for our customers and, in doing so, create value for all of our other stakeholders.”
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