Tesco’s profit increased significantly in the last business year

By: Trademagazin Date: 2024. 04. 10. 11:34

The profit of the largest British retail chain, Tesco, increased significantly in the company’s 2023-2024 financial year.

According to the preliminary report published on the London Stock Exchange on Wednesday, the company’s profit before tax rose from 882 million pounds in the previous fiscal year to 2.289 billion pounds (1,040 billion forints). In the 52 weeks ending on February 24, the group-level summer rental income was 68.187 billion pounds (31 thousand billion forints), 4.4 percent higher than the turnover measured in the previous fiscal year. Tesco’s operating profit rose to 2.821 billion pounds (1,280 billion forints) in 2023-2024; this is exactly twice the operating result of a year earlier.

According to Wednesday’s earnings report, the separately measured, adjusted group-level operating profit of Tesco’s Central European network fell by 50 percent to 90 million pounds in the financial year that ended in February, in addition to a 0.2 percent increase in same-store sales.

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