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Britain’s largest supermarket chain has declared that inflationary pressures have “lessened substantially”, as it reports a jump in profits.
Tesco has posted a 12.8% rise in adjusted operating profit for the last financial year, up to £2.8bn, and a 7.4% rise in group sales.
Inflationary pressures have lessened substantially, however we are conscious that things are still difficult for many customers, so we have worked hard to reduce prices and have now been the cheapest full-line grocer for well over a year.
We have continued to invest in helping customers where it matters most, cutting prices on more than 4,000 products and doubling down on our powerful combination of Aldi Price Match, Low Everyday Prices and Clubcard Prices.
