British multinational retailer Tesco has unveiled its preliminary results for 2016-17. During the review period, Group sales increased by 4.3 per cent to £ 49.9 billion while the UK like-for-like sales surged 0.9 per cent. This is first full-year growth since 2009-10 for the retailer.
The retailer’s group operating profit before exceptional items was up 30 per cent to £ 1,280 million; in UK & ROI it was up 60 per cent to £ 803 million. Statutory revenue also soared 3.7 per cent to £ 55.9 billion.
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Tesco is reported to be the third largest retailer in the world in terms of profits, and second-largest in terms of revenues. Headquartered in England, Tesco operates over 6,814 stores across 12 countries in Asia and Europe.
