Tesco’s profit increased significantly in the first half of the business year

According to the 55-page preliminary report published on the London Stock Exchange on Wednesday, group-level summer trading in the 26 weeks ending on August 26 was 35.75 billion pounds (13,745 billion forints), 8.9 percent more than the turnover measured in the same period a year earlier.

Adjusted operating profit rose by 14 percent year-on-year to 1.482 billion pounds (663 billion forints). Ken Murphy, CEO of Tesco, emphasized in his statement attached to the earnings report that food price inflation slowed down throughout the period under review, and although external pressures continue to prevail, the company expects this disinflationary process to continue in the second half of the business year.