TESCO, OPERATING PROFIT REVISED UP

TESCO, OPERATING PROFIT REVISED UP

Tesco reports that its sales in UK & Ireland increased 2.3% in Q3, compared to the same period a year earlier. In Central Europe, sales growth reached 3.1% over the same period.


In the end, the group's sales increased by 2.4% in the third quarter compared to the same period a year earlier.


Tesco also indicates that due to stronger than expected sales to date, operating profit should stand out slightly above the top of the previous forecast range (2.5 to 2.6 billion pounds).


'Despite increasing cost pressures and supply chain challenges in the industry, we have outperformed the market, increasing our market share and strengthening our position,' says Ken Murphy, Chief Executive at Tesco.

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